Life Insurance

What characteristics should you consider in an insurance company?

service; financial stability

Term life insurance is:

temporary insurance

The DINK method may not be the best method for individuals who have:

a spouse in poor health; unstable income

Participating policies refund part of the policy premium called a policy ___.

dividends

Life insurance is important, but can also be very ___.

expensive

Which type of insurance provides liquidity at the time of death?

life insurance

Life insurance that does not provide policy dividends is also called a non-par, or ___ policy.

nonparticipating

Life insurance is when a person joins a risk-sharing group known as an insurance company and purchases a contract also called an insurance ___.

policy

For fairly young people, ___ life insurance is less expensive than ___ life insurance.

term; whole

A whole life policy that combines term insurance and investment elements is called:

universal life

A plan where the policyholder pays the same premium as long as they live is called a(n):

whole life policy