Page 64 - Book5E

56
Understanding Your Life Insurance Policy
Match the following terms to the right definition listed below:
1. ______ Accidental death benefit
2. ______ Beneficiary
3. ______ Cash surrender value
4. ______ Claim
5. ______ Contingent beneficiary
6. ______ Convertible term insurance
7. ______ Death benefit
8. ______ Dividend
9. ______ Permanent life
10. ______ Policy
11. ______ Premium
12. ______ Term life
13. ______ Universal life
14. ______ Variable life
15. ______ Whole life
(A) A permanent policy that gives the owner the right to vary premium payments and the death benefit within certain prescribed limits. The rate of return on the accumulation account fluctuates according to investment performance but will not fall below a guaranteed minimum rate of return, such as four percent.
(B) The contract or agreement made between the insurer and the insured.