a contract between a beneficiary and a life insurance company that pays out the policy's death benefit in a series of regular payments instead of a lump sum.
annuity
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15
a condition or situation that increases the chance of loss in an insured risk
hazard
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15
A loan a life insurance company makes to a policy owner. The security for the loan is the cash value of the owner’s policy.
Policy loan
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15
when When a policy that ended due to non-payment of premiums is restored or restarted.
Reinstatement
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eraser
Reset score!
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fairy
Take points!
5
10
15
20
25
fairy
Take points!
5
10
15
20
25
baam
Lose 20 points!
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heart
Other team wins 25 points!
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gold
Win 50 points!
Okay!
rocket
Go to first place!
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baam
Lose 20 points!
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15
The amount of cash that grows in a permanent life insurance policy.
Cash value
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15
The probability of an individual living to a certain age according to a particular mortality table
life expectancy
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15
An insurance company representative licensed by the state who solicits and negotiates contracts of insurance, and provides service to the policyholder for the insurer.
agent
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15
Optional add-ons to your coverage to expand or limit the coverage or benefits.
Riders
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15
The practice of charging more than the regular rate for a life insurance policy because the applicant has a greater-than-average risk of death.
Rating
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15
The several ways, other than immediate payment in cash, in which a policyholder or beneficiary may choose to have policy benefits paid.
