chapter 10

2. Insurance, "permanent insurance" guaranteed to get money back
3. loan, permits you to borrow any amount up to the cash value of the policy.
4. insurance, covers your funeral and burial service
5. Insurance, "rented insurance" buy this insurance for a certain period
7. A document that modifies it's coverage
11. annuities, this annuity allows for payments to start at a future date. Interest accumulates on the money deposited
12. term ,policy guarantees you will pay the same premium for the duration of your policy
14. annuities, For people approaching retirement age can purchase this. (hint: provide income payments at once)
15. term, allows you to change from term to permanent coverage(high premium)
16. a planned investment over time or paybacks overtime usually used for retirement
18. policy, At the end of the period the policy is "paid up" and the policyholder remains insured for life.
19. slum payment, The insurance company pays the installment to the beneficiary

1. clause, This provision prevents the forfeiture of accrued benefits if you choose to drop the policy.
6. policy, called a par policy(insurance provides policy dividends
8. term ,The coverage would decrease as the balance on the loan decreases . The premium would stay the same.
9. charges, The insurance company will asses this charge if you withdraw money within a certain period of time
10. clause , Beneficiaries of someone who died this certain way will receive only the amount of premiums paid.
11. indemnity ,When the company pays twice if the insured's death results from a accident
13. life policy, part of this policy makes you place your premium in a sperate account
17. insurance , Part of your premium goes into an investment account that earns interest