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

Why Medicare Should Be Part of Your Retirement Strategy

Why Medicare Should Be Part of Your Retirement Strategy

How Medicare can address health care needs in your retirement strategy.

Budget Check Up: Tax Time Is the Right Time

Budget Check Up: Tax Time Is the Right Time

Tax preparation may be the perfect time to give the household budget a check-up.

Exit Strategies of the Rich and Famous

Exit Strategies of the Rich and Famous

Estate conservation is too important to put off. Do you have a smart exit strategy?