Life Insurance Terminology Pdf

File name: Life Insurance Terminology Pdf

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Link👉Life Insurance Terminology Pdf
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Jan 19,  · Life insurance is an important plan for the unexpected — it offers financial protection to your loved ones if you die suddenly by replacing your income. The beneficiaries of your life insurance policy receive a lump sum that . Types: Privacy Policy · Disability · Health Care. New York Life | Life Insurance | Learn More. There are three main insurance sectors: property/casualty, life/health and health insurance. Property/casualty (P/C) consists mainly of auto, home and commer-cial insurance. Life/health (L/H) consists mainly of life insurance and annuity products. Health insurance is offered by private health insurance companies. Life Insurance: Glossary of Terms Accumulation Value: Term used in Universal Life policies to describe the total of all premiums and earnings credited to the account before deductions for any expenses, loans, and surrenders. Life Insurance: Insurance that pays a stated amount of monetary benefits upon the death of an insured. New Hire: An eligible employee hired on or after the effective date shown on the Joinder Agreement and who meets the eligibility requirements for coverage. Non Contributory: The employer is responsible for premium amounts.