Definitions
What is life insurance?
A type of insurance that pays money to your family if you die.
What is smoking?
A factor that can increases your life insurance premium.
Includes a "cash value" component that builds equity over time.
Permanent.
What is term life insurance?
Temporary coverage.
TRUE OR FALSE: Women's premiums are lower than Men's?
True.
What is the most affordable type of life insurance?
Term.
What is permanent life insurance?
Entire lifetime coverage.
Do younger, healthier people pay a less premium?
Yes.
10-year term is between $20-$80.
Term
What is a death benefit?
The money paid out when the insured dies.
What can dangerous hobbies or high-risk jobs do?
Increase the premium.
Monthly it’s around $300-$600.
Permanent.
Who chooses the beneficiaries?
The policy holder.
TRUE OR FALSE: Pre-existing conditions or a family history of illness can raise your premium.
True.
The policy expires without value if you outlive the term.
Term.