Life insurance planning
What is another name for cash-value life insurance?
permanent life insurance
What are dividends
dividends are the refunds of excess premiums paid to policyowners when a mutual insurer has a financial surpluss
a loan used to buy real estate where the property itself servers as a collateral for the loan
What is Annual Percentage Rate (APR)?
yearly cost of borrowing, that includes the interest rate and certain fees
What are taxes?
Mandatory payments people and businesses make to the government to fund public services and programs
Who controls all rights granted by a life insurance policy?
policyowner
What is the best-known defined contribution plan
401(k) plan
What is the largest expenditure most people ever make?
the purchase of a home
How do you close a credit card?
pay off the balance
What is tax avoidance?
legal strategy to minimize the amount of taxes owed