Insurance

What is a Term?

Term

[turm]

noun

1.

The Term is the length of time a specific insurance Policy is effective. This feature is most commonly found in life insurance, where the Policy is only good for a specific length of time, or “term” of a person’s life.

Have A Question About This Topic?

Thank you! Oops!
 

Related Content

Keep Your Umbrella Handy

Keep Your Umbrella Handy

Umbrella liability can be a fairly inexpensive way to help shelter current assets and future income from the unexpected.

COBRA Coverage

COBRA Coverage

Curious about alternate insurance options? This article will help you learn the basics of COBRA coverage.

Qualifying For Medicare Under Age 65

Qualifying For Medicare Under Age 65

You might qualify for Medicare if you’re under 65-years-old. This article will explain the conditions where you may qualify for Medicare early.