A policy term is the period of time during which an insurance policy provides coverage. The term is typically specified in the insurance policy at the time it is purchased and can vary depending on the type of insurance coverage.

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For example, a term life insurance policy may have a term of 10, 20, or 30 years, during which time the policy will provide coverage in the event of the policyholder's death. An auto insurance policy may have a term of 6 months or 1 year, during which time the policy will provide coverage for damages or injuries resulting from car accidents.

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The policy term is an important factor to consider when purchasing insurance coverage, as it determines the length of time for which the policy will provide protection. Policyholders will typically have the option to renew or extend their policy at the end of the term, subject to the terms and conditions of the policy.

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Overall, the policy term is the period of time during which an insurance policy provides coverage, and is an important factor to consider when choosing an insurance policy.