Insurance

What is a Term?

Term

[turm]

noun

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.

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Your family's needs and assets are critical considerations when determining how much life insurance to invest in. Use this four-step process to help you calculate how much life insurance you need.