life insurance
Mortality financial protection
Life insurance is a contract where an insurer pays a sum to designated beneficiaries upon the policyholder's death, in exchange for regular premium payments during their lifetime.
Term life covers a set period; whole life covers the entire lifespan and builds cash value.
His life insurance policy paid off the mortgage when he died.
Added cost for better
- coverageExtent of inclusion
- ridersThose who mount animals
- exclusionsThings deliberately left out
- underwritingRisk evaluation and acceptance
beneficiary · deductible · convertible · renewable · lapse · surrender · endorsement · claims
Payment upon policyholder's passing
- beneficiaryDesignated asset receiver
- lump sumEntire amount at once
- claimStatement of ownership or truth
- tax-freeExempt from duties
People financially supported
- spouseMarried partner
- childrenYoung human beings
- heirsThose who inherit
- loved onesCherished people in life
next of kin · survivors · breadwinner · guardianship · provision · support · legacy · inheritance
Risk evaluation and acceptance
- actuaryFinancial risk analyst
- actuarialOf risk calculation
- mortalityState of eventual death
- risk assessmentEvaluating likelihood of harm
insurable interest · health screening · age rating · pre-existing conditions · standard rate
Convertible monetary worth
- dividendsProfits paid to shareholders
- annuityPeriodic fixed payment
- retirementLeaving the workforce permanently
- savingsAccumulated money kept
wealth accumulation · interest · growth · endowment · loan · tax-deferred · asset
premium
Added cost for better
- coverageExtent of inclusion
- ridersThose who mount animals
- exclusionsThings deliberately left out
underwriting · beneficiary · deductible · convertible · renewable · lapse · surrender · endorsement · claims · insurability
death benefit
Payment upon policyholder's passing
- beneficiaryDesignated asset receiver
- lump sumEntire amount at once
- claimStatement of ownership or truth
tax-free · settlement · proceeds · cash value
dependents
People financially supported
loved ones · next of kin · survivors · breadwinner · guardianship · provision · support · legacy · inheritance · college fund
underwriting
Risk evaluation and acceptance
risk assessment · insurable interest · health screening · age rating · pre-existing conditions · standard rate
cash value
Convertible monetary worth
- dividendsProfits paid to shareholders
- annuityPeriodic fixed payment
- retirementLeaving the workforce permanently
savings · wealth accumulation · interest · growth · endowment · loan · tax-deferred · asset
- "life" phraseslifeblood, nightlife, wildlife, lowlife, highlife
- benefitsadvantage, healthcare coverage, benefit, health screening, 401k
- employee perkscompany car, gym membership, free meals, company housing, parking space
- family financeshousehold income, income, savings, expenses, monthly expenses
- job benefitsbenefits, 401k, medical coverage, medical benefits, retirement plan
- safety & insuranceliability, coverage, policy, premium, deductible
life insurancehealth insurance
Protection against medical costs
property insurance · auto insurance · homeowners insurance · disability insurance · liability insurance
life insurancespending
Outlaying of funds
living expenses · consumption · immediate gratification · cash withdrawal · liquidation
life, lively, living, insurance, vitamin, lifelong, lifelike, lifeline, lifespan