| WORD | DESCRIPTION |
| Target Pension | The amount of pension that a policyholder desires under a pension policy. |
| Term Insurance | Protection during limited number of years expiring without value if the insured survives the stated period which may be one or more year but usually is five to twenty years, because such periods usually covers the needs for temporary protection. |
| Term | The period for which insurance coverage is given. |
| Tertiary Beneficiary | In life insurance, a beneficiary designated as third in line to receive the proceeds or benefits if the primary and secondary beneficiaries do not survive the insured. |
| Third-party Owner | A policy owner who is not the prospective insured. The policy owner and the insured may be and often are the same person. if for example, you apply for and are issued an insurance policy owner and the insured and may be known as the policy owner insured. if, however, your mother applies for and is issued a policy on your life, then she is the policy owner and you are the insured. |
| Title | Transfer of ownership from the assignor to the assignee. |
