Life Insurance

2. term insurance A type of life insurance policy that pays a decreasing death benefit over time and, as a result, has a lower premium than other types of term insurance.
5. value The amount of coverage that a life insurance policy provides.
7. table A table that lists death rates according to age groups.
8. life insurance Similar to whole life insurance; the cash value can be used to pay the insurance premium if the policyholder doesn’t pay it, but if the cash value is not enough to pay the insurance, the policy can lapse.
9. term life insurance Life insurance that employees get through their employers.
12. life insurance An insurance policy that covers the buyer for his or her lifetime or to a specified age; types include whole life, universal life, and variable life.
15. integer function The greatest integer of a number x that is the largest integer less than or equal to x.
16. term insurance A type of life insurance policy that pays the same death benefit over the term of the policy. The premiums paid usually remain level throughout the term.

1. A life insurance premium is the amount you pay for the policy.
3. value The expected profit based on the probabilities.
4. term insurance A type of life insurance policy that pays increasing death benefit over time and, as a result, has a lower premium than other types of term insurance.
6. value The value of the investment portion of a whole life insurance policy.
7. rate The death rate for a person’s age group.
10. life insurance Combines an insurance part with a variety of investment components; these may include stocks, bonds, and money market funds; one of the riskiest types of insurance policies.
11. life insurance A type of insurance that combines a life insurance policy with an investment feature; policyholders pay a premium that is divided between the insurance portion and the investment portion.
13. life insurance A type of insurance that provides protection for the policyholder; term insurance covers the policyholder for a specified period of time, usually 5, 10, or 20 years; after that time, the policy is no longer in effect, unless it is renewed for another term.
14. A person chosen by the policyholder whose name is on the life insurance policy and who receives the benefits of the policy after the policyholder’s death.