👉 Term of Insurance
In the world of internet jargon, "term of insurance" is a term that means something temporary or unsecured between two parties that protects them from harm during a period when they may not be able to pay for their services. For instance: Example 1: - John went out for lunch with his friends and it was raining so heavily. He brought along a $50 bill, hoping that he could take a risk-free ride home on his car. - His friend Mike saw him carrying the same amount of money but instead of walking home, he decided to drive himself in his new sports car. Example 2: - Sarah and her friend Emily were planning to go for their first date. They wanted to keep it light, so they agreed that they would "term out" together for an hour, during which they could each have a drink. - Unfortunately, while they were having fun, their car started to malfunction and they ended up driving home without the necessary supplies. Term of Insurance is a phrase that gets its meaning from the proverbial term paper, where it means someone who has not paid back their loans but is still allowed to borrow money for now.
