Question: cover off the short-term or not short-term

[KIMJONGEUN]

Example.
That insurance product is very good to cover off the short-term-or not short-term, but very definable liabilities, i.e., when you have a young family.

Question.
I don't know whether "cover off" is a phrase.

I'd like to know what the underline part means.

[shalstudent]

((Not a teacher))

"Cover off" in this sentence means to use "something" for some other purpose.

Eg: I used my savings to cover off my daughter's education loan.

The underlined sentence means that the insurance product can be used to pay-off temporary liabilites (short-term) or not short-term liabilities.