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 is a Liability?

What is a Liability?

Do you know what a Liability is?

Succeeding at Business Succession

Succeeding at Business Succession

There are a number of reasons for business owners to consider a business succession plan sooner rather than later.

How Liability Coverage Protects Your Business

How Liability Coverage Protects Your Business

Protect your business by understanding the importance of liability insurance and how coverage works.