| A | B |
|---|
| Pre Need Funeral Protection | life insurance often purchased at the funeral home to cover the expenses of burial and funeral |
| Term Rider | term coverage which can be added to a whole life product so that the death benefit is increased for the term of the rider |
| Annual Renewable Term | a term insurance contract which gives the policyowner the right to renew the coverage each year for a specified period of time. Premiums increase with each renewal because the rates are based on the insured's attained age. The renewal does not requiore proof of insurablility. |
| Industrial Life | A policy usually having a face value of $2000 or less with the premiums collected weekly at the insured's home or workplace |
| Current Assumption Whole Life | a dual premium product where the insured's premium is adjusted annually to reflect the curremnt market interest rate |
| Decreasing Term | A policy in which the death benefit starts as a set face amount and decreases over the term of coverage |
| Credit Life | a decreasing term insurance designed to pay the balance due on a loan should the borrower die |
| Convertible Term | a life policy which allows the insured to change from term to whole life at a specified date without evidence of insurability |
| Renewable Term | a life policy which allows the insured to keep the coverage in force for a specified period of time so long as the premium is paid. The renewals do not require evidence of insurability |
| Whole Life | life insurance under which coverage remains in force up to age 100, provided the premiums are paid |
