a condition or situation that increases the chance of loss in an insured risk
hazard
The several ways, other than immediate payment in cash, in which a policyholder or beneficiary may choose to have policy benefits paid.
Settlement options
The probability of an individual living to a certain age according to a particular mortality table
life expectancy
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
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
The amount of cash that grows in a permanent life insurance policy.
Cash value
Optional add-ons to your coverage to expand or limit the coverage or benefits.
Riders
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
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
when When a policy that ended due to non-payment of premiums is restored or restarted.
Reinstatement
