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Once that period or term is up, it is up to the policy owner to decide whether to renew or to let the coverage end.
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Life insurance is a legal contract that promises to pay a specified amount which is taxed as ordinary income.
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Learn vocabulary, terms, and more with flashcards, games, and other study tools.
Insurance in which the risk insured against is the death of a particular person (known as the insured), upon whose death within a stated term (for term insurance), or whenever death occurs (for permanent insurance), the insurance company agrees to pay a stated sum or income to the beneficiary. Quizlet flashcards, activities and games help you improve your grades. Learn vocabulary, terms, and more with flashcards, games, and other study tools. A type of life insurance with a limited coverage period. Start studying ca life and health insurance definitions. Aug 11, 2020 · life insurance is a plan for the unexpected — it offers financial protection to your loved ones if you die suddenly by replacing your income. Life insurance is a legal contract that promises to pay beneficiary an income tax free benefit. Learn life insurance definitions with free interactive flashcards. Life insurance is a legal contract that promises to pay a specified amount which is taxed as ordinary income. What are the beneficiaries of a life insurance policy? Once that period or term is up, it is up to the policy owner to decide whether to renew or to let the coverage end. What kind of illness does a life insurance policy cover? Learn vocabulary, terms, and more with flashcards, games, and other study tools.
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