This is the simplest formula I can find to add Months to Date. This considers sum of months exceeding 12, converting it to January and adding 1 to the year.
Where: Term column is the number of months to add, Date is the starting date.
=DATE(
YEAR([Date]@row) + INT((MONTH([Date]@row) + [Term]@row - 1) / 12),
MOD(MONTH([Date]@row) + [Term]@row - 1, 12) + 1,
DAY([Date]@row)
)
Posting it out here for my future use. I surely will forget this when I need it.