What does Term mean? Read on to discover the definition & meaning of the term Term - to help you better understand the language used in insurance policies.
A term refers to the specific period during which an insurance contract applies. It may also refer to the conditions under which an insurance obligation may be taken or an agreement reached. In insurance, the terms are stated in the insurance contract, although they are typically called conditions.
We hope the you have a better understanding of the meaning of Term.