Life

Coverage is pure protection with no savings component, which keeps premiums far below permanent insurance for the same face amount...

Part of each premium pays for protection and part builds cash value, credited with a guaranteed interest rate and often a dividend...

Each month the insurer deducts mortality charges and expenses from the account, and the remainder earns interest at a credited rat...

Returns are not guaranteed, so cash value and death benefit can rise or fall with market performance, though guaranteed minimum de...

Basic group amounts often require no medical evidence, which makes them valuable for workers with health issues. Supplemental amou...

Acceptance is simplified or guaranteed, meaning no medical exam and often no health questions, with guaranteed issue versions char...

Payouts for partial losses are set as percentages of the face amount, and the coverage is cheap because accidents cause only a sma...

Immediate annuities start paying at once while deferred annuities accumulate first. Fixed annuities credit a guaranteed rate, vari...

It grows tax deferred, belongs to the policyholder, and can be accessed by withdrawal up to basis, by policy loan, or by full surr...

Primary beneficiaries come first, contingent beneficiaries receive only if no primary survives, and per stirpes wording passes a d...

During this period the insurer can investigate and deny a claim for material misrepresentation, even unintentional ones such as an...

If payment arrives within the window nothing changes. If it does not, a life policy may lapse or trigger automatic premium loans t...