What is a Term? Term[turm]noun1.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? Address Thank you! Oops! Related Contents Your DNA Test If your family relies on your income, it’s critical to know what their needs would be in the event of your death. The Value of Insuring Against Life’s Risks Building wealth requires protection from the forces of wealth destruction. Long-Term-Care Needs Determine your potential long-term care needs and how long your current assets might last.