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

Bi-Weekly Payments

Bi-Weekly Payments

This calculator estimates the savings from paying a mortgage bi-weekly instead of monthly.

Stop Wasting Money

Stop Wasting Money

One way to find money is to examine your current spending habits and eliminate money wasters.

The Lowdown on Those Free Credit Scores

The Lowdown on Those Free Credit Scores

What’s the deal with your yearly free credit report?