Deffered income - Study guides, Revision notes & Summaries

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LIFE INSURANCE - Insurance that pays out a sum of money either on the death of the insured person or after a set period. TERM LIFE INSURANCE - Life insurance that pays a benefit in the event of the death of the insured during a specified term. *PURE *ONLY DEATH BENEFIT NO CASH VALUE WHOLE LIFE INSURANCE - Life insurance that pays a benefit on the death of the insured and also accumulates a *PERMANENT *DEATH BENEFIT & CASH VALUE. UNIVERSAL LIFE INSURANCE - Flexible permanent life insura...