WebB. Life insurance is a legal contract that promises to pay a specified amount which is taxed as ordinary income. C. Life insurance is a legal contract that promises to pay … WebCompulsive Shopping: An unhealthy obsession with shopping that materially interferes with the daily life of the afflicted. This ailment goes beyond mere consumerism and is psychological in nature ...
Glossary and Acronyms - Lloyd
Web22. feb 2024. · Term life insurance. Term is the most popular type of life insurance for most people because it’s straightforward, affordable, and only lasts for as long as you need it. Term life insurance is one of the easiest and cheapest ways to provide a financial safety net for your loved ones. How it works: Term life insurance lasts for a set number of ... WebAnnuity - A contract that provides a periodic income at regular intervals, usually for life. Annuity Certain - A contract that provides an income for a specified number of years, regardless of life or death. Application - A statement of information made by a person applying for life insurance. industrial cabinet hinges
Jargon buster - BIBA - British Insurance Brokers
Web08. mar 2024. · Important key words explained Deductible: The amount you owe for covered health care services before your health insurance or plan begins to pay. Copayment: An amount you pay as your share of the … WebWhat is term life Insurance? A term life policy is purchased to last for a specified period, such as 1, 5, 10, or sometimes as much as 30 years. Coverage expires when that period ends–hence the name–and therefore, a payout only happens if the insured's death occurs during the specified period. industrial cabinet knobs