Beneficiary

The amount paid to beneficiaries upon the death of the insured under a life insurance policy.

The written contract between the insurer and insured that outlines the terms, conditions, coverage, and exclusions of the insurance agreement.

The person or entity covered by an insurance policy and protected against specified losses or risks.

Life insurance coverage for a specified period of time, providing a death benefit if the insured dies during the term.

Permanent life insurance that provides coverage for the insured's entire lifetime and includes a cash value component.

A financial product that provides regular payments to an individual, typically used for retirement income.

The savings component of a permanent life insurance policy that accumulates over time and can be borrowed against or withdrawn.