NC Life Insurance Flashcards

Cash Value

Buy-Sell Agreement

Key Person Insurance

Individual Life Insurance

Term Life Insurance

Variable Life Insurance

Insuring Clause

Consideration

Grace Period

Automatic Premium Loans

Reinstatement

Incontestability

Face Amount

Term Policies

Level Term Insurance

Decreasing Term Insurance

Increasing Term Insurance

Adjustable Life Insurance

Variable Universal Life Insurance

Family Income Policy

Family Maintenance Policy

Modified Whole Life

Waiver of Premium

A rider found in juvenile policies which waives the premiums if the person paying them (often the parent) is disabled or dies while the child is still a minor.

Guaranteed Insurability

Return of Premium

Interest

Cash Surrender

Reduced Paid-Up

Extended Term

Dividend Options

Cash

Paid-Up Option

Credit Life Insurance

Disability Income

Medicare

Annuity

Single Premium

Level Premium

Flexible Premium

Life Income Joint and Survivor

Joint Life

Fixed Annuity

Variable Annuity

Modified Endowment Contracts

Savings Incentive Match Plan for Employees (SIMPLE)