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Top Life Insurance Flashcards

Life insurance is a way of providing for loved ones or named beneficiaries in the event of a death. This type of policy can’t be taken out on another person without their knowledge, so is most commonly taken out for oneself. Depending on the specifics of the individual policy, it will provide a cash amount to the designated beneficiary in the event of the death of the policy holder. Stipulations can dictate that the cash be paid as a single lump sum or in instalments, as the policy holder determines when they take out their life insurance policy.

While it’s a subject that many do not wish to think about, a life insurance policy can provide peace of mind that loved ones will be provided for or related expenses such as burial, covered in the event of a bereavement. Learn more about life insurance with our handy flashcards.

Life Insurance Chapter 1 Flashcards

Cards: 11| Attempts: 73| Last updated: Sep 11, 2020

What Is The Principle Of Life Insurance?

Life Insurance Reduces UncertaintyReplaces Th...

Participating Policies (par) Are...

Policies That May Pay Annual Dividends To Pol...

Nonparticipating Policies (nonpar) Are...

Insurance Policies That Do Not Pay Dividends ...

Money Accumulated In A Permanent Policy That ...

Cash ValueCan Be Referred To As Living Benefi...

Life Insurance Policies

Cards: 17| Attempts: 44| Last updated: Sep 18, 2015

Which Of The Following Terms Best Describes A...

C

All Of The Following Statements Regarding Ter...

B

"When Level Premium Insurance Is Renewed, The...

C

Which Of The Following Statements Describing ...

C

Life Insurance Chapter Four Flashcards

Cards: 11| Attempts: 29| Last updated: Sep 11, 2020

Payments That Are Guaranteed For The Lifetime...

Life Income Only

Payments Are Guaranteed For The Lifetime Of T...

Life Income Period Certain

Payments Are Guaranteed For The Lifetime Of 2...

Life Income Joint And Survivor

Found In Policies That Accumulate Cash Values...

Characteristics Of Nonforfeiture Options (Gua...

How Well Can You Answer The Following Life Insurance Questions Flashcards

Cards: 55| Attempts: 14| Last updated: Mar 31, 2021

What Type Of Insurance Would Be Used For A Re...

Increasing Term The Return Of Prem...

What Is The Benefit Of Choosing Extended Term...

It Has The Highest Amount Of Insurance Protec...

Which Of The Following Entities Can Legally B...

InsurerOnly Insurers, Not Agents, Can B...

An Insured Wants To Name Her Husband As...

RevocableIf Her Husband Is Named As The Revoc...

Chapter Three

Cards: 30| Attempts: 1| Last updated: Sep 22, 2015

Temporary Protection For A Specified Period O...

Characteristics Of Term Policies

LevelDecreasing IncreasingRe-EntryLife-E...

Types Of Term Policies

The Death Benefit And Premiums Remain Level D...

Level Term Policies

The Death Benefit Decreases, But Premiums Usu...

Decreasing Term Policies

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