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

What Does Boat Insurance Cover?

What Does Boat Insurance Cover?

Learn the basics of boat insurance, including what it is, what it covers, and why you may want to consider protecting your watercraft against accidents.

What is Exposure?

What is Exposure?

Do you know what Exposure is?

Did You Know This Fact About Claims Advances?

Did You Know This Fact About Claims Advances?

If a fire forces you out of your home, you can ask for a claim advance.