Basics
This is the person whose life is insured under the policy
Who is the policy holder?
This is the amount you regularly pay to keep your life insurance active
What is a premium?
This policy lasts your entire life and builds cash value over time
What is whole life insurance?
This is the amount paid to the beneficiary when the insured dies
What is the death benefit?
Your premium may go up based on this health-related factor
What is a pre-existing condition?
This flexible policy allows you to adjust your premiums and death benefit
What is universal life insurance?
This is the type of life insurance that covers you for a set period. Ex: 10 or 20 years
What is term life insurance?
Younger people often pay lower premiums because they are considered this:
What is low risk?
This policy pays out only if you die within a certain period