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.

Share |

Have A Question About This Topic?

Thank you! Oops!

Related Content

Disability Protection for Your Employees and Your Business

Disability Protection for Your Employees and Your Business

Many business owners are surprised to learn that wages paid to a disabled employee, not subject to a written plan, are not tax-deductible business expenses.

Did You Know This Fact About Foggy Conditions?

Did You Know This Fact About Foggy Conditions?

Foggy conditions make driving more hazardous, but high beams aren't the answer.

Consider Keeping Your Life Insurance When You Retire

Consider Keeping Your Life Insurance When You Retire

Reasons to retain your coverage into your retirement years.