My phenomenal padlet by Shidae Randolph

Life Insurance

02srandolph — 2020-11-06 00:51:51 UTC

by: Shidae Randolph <3

What is life insurance?

02srandolph — 2020-11-06 00:52:53 UTC

A contract that promises to pay a designated beneficiary in exchange for a premium. upon the death of an insured person.

What is term life insurance?

02srandolph — 2020-11-06 00:59:51 UTC

A life insurance that provides coverage at a fixed rate of payments for a limited time.

What is whole life insurance?

02srandolph — 2020-11-06 01:04:55 UTC

A life insurance policy that is guaranteed the persons whole life.

What is universal life insurance?

02srandolph — 2020-11-06 01:08:13 UTC

A cash value life insurance. credited each month with interest.

What is variable life insurance?

02srandolph — 2020-11-06 01:09:54 UTC

A permanent life insurance product with separate accounts comprised of various instruments.

What are beneficiaries and how do they receive payments?

02srandolph — 2020-11-06 01:13:07 UTC

A natural person or legal entity who receives a payment of the amount of insurance after the death of the insured. They can either get the full payment of have it spread out through their life.

What is premium and what are some factors.

02srandolph — 2020-11-06 01:19:39 UTC

An amount to be paid for an insurance policy. some factors are health history , lifestyle , age , medical history , gender , current health status.