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.

Share |

Have A Question About This Topic?

Thank you! Oops!
 

Related Contents

The Best of Both Worlds

The Best of Both Worlds

Here are a few reasons we’ve chosen to be independent.

Understanding the Basics of Medigap Policies

Understanding the Basics of Medigap Policies

Important as it is, Medicare does not cover the full range of health-care expenses you may experience in your golden years.

Long-Term-Care Protection Strategies

Long-Term-Care Protection Strategies

The chances of needing long-term care, its cost, and strategies for covering that cost.