Sc Life, Accident And Health Already Passed

Level Term Insurance {Ans: The amount of insurance protection in the Term policy remains constant during the policy period, which could be 5 years, 10, 20 or even to age 65. Remember, Term has no cash value and will eventually expire. TO be covered, you must die in the term. The word "term" means time. Term insurance is considered to be "temporary".}Protection {Ans: Term used interchangeably with the word "coverage" to denote insurance provided under the terms of a policy.}Deductible {Ans: Dollars or percentage of expense that will not be reimbursed by the insurer. The purpose of the deductible is to hold down the cost of insurance. The higher the deductible, the lower the premium.}General Agent {Ans: An individual appointed by an insurer to administer its business in a given territory. Responsible for for building the agency and service force. Compensation is on a commission basis, although there may be additional expense allowances. Often called a Managing General Agent (MGA).}Level Premium Insurance {Ans: Life insurance, the premium for which remains at the same level (amount) throughout the life of the policy. For example, on traditional Whole Life, the premium is based upon the insured's original