Life Insurance
What is it? Insurance on human lives including endowment benefits, additional benefits in event of death or dismemberment by accident or accidental means, additional benefits for disability, & annuities.
- Term - Life insurance issued for a term of years, after which it expires without value.
- Whole Life - A life insurance policy that runs for the whole life - that is, until death (except that it will pay the face amount at the ultimate age on the mortality table being used because, as far as that table goes, that age is death for all surviving insureds). Premiums for a WHOLE LIFE policy may be paid for the whole life or for a limited period during which the higher premium charged pays up the policy.
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