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 an Adjuster?

What is an Adjuster?

Do you know what an Adjuster is?

What is a Loss?

What is a Loss?

Do you know what a Loss is?

Think Flood Safety this Spring

Think Flood Safety this Spring

Floods are among the most frequent and costly natural disasters, especially in the Spring. Last year alone, excessive rainfall brought flooding to many locations, making it the deadliest for flooding since 2017.