Term
| an extreme form of limited-payment life insurance is |
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Definition
| single-premium whole life insurance |
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Term
| provides lifetime protection with a single premium |
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Definition
| single-premium whole life insurance |
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Term
| b/c the premiums under a limited-pmt policy are higher than those paid under and ordinary life policy, the cash values are |
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Definition
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Term
| a limited-pmt policy should be used with |
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Definition
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Term
| is it extremely easy or difficult for a person with a modest income to insure his or her life adequately with a limited-pmt policy? |
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Definition
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Term
| b/c of the relatively high premiums, the amt of permanent life insurance that can be purchased is substantially lower than if |
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Definition
| an ordinary life policy were purchased |
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Term
| a traditional form of life insurance - pays the face amt of insurance if the insured dies within a specified period |
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Definition
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Term
| if the insured survives to the end of the endowment period, |
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Definition
| the face amt is paid to the policy owner at that time |
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Term
| If stephanie, age 35, purchases a 20-year endowment policy, and dies within the 20-year period, the face amt is paid to |
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Definition
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Term
| if stephanie, age 35, purchases a 20-year endowment policy, and survives to the end of the period, the face amount is paid to |
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Definition
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Term
| accounts for less than 1% of the life insurance in force |
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Definition
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Term
| most cannot meet the tax definition of life insurance |
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Definition
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Term
| if an endowment policy cannot meet the tax definition, the investment income credited to the cash surrender value is subject to |
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Definition
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Term
| where are endowment policies popular? |
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Definition
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