Life Insurance Flashcard

Front

What are beneficiaries in life insurance?

Back

People who receive death benefits

Front

What are death benefits in life insurance?

Back

Money that beneficiaries receive after the policy holder dies

Front

What is a dependant in the context of life insurance?

Back

A person who relies on another for financial support

Front

What are actuarial life tables used for in life insurance?

Back

To estimate life expectancy

Front

What is term life insurance?

Back

Life insurance for a set time period

Front

What is the main drawback of whole life insurance?

Back

The cash value investment account is a scam

Front

What factors make life insurance less expensive? Options: Having a drink once a week and engaging in dangerous activities, Older age, Staying fit with extreme sports like mountain biking, Being young, healthy, and not engaging in dangerous activities

Back

Being young, healthy, and not engaging in dangerous activities