permanent life insurance
11Term Life Insurance — A policy with a set duration limit on the coverage period. Once the policy is expired, it is up to the policy owner to decide whether to renew the term life insurance policy or to let the coverage end. This type of insurance policy contrasts with …
12Variable universal life insurance — (often shortened to VUL) is a type of life insurance that builds a cash value. In a VUL, the cash value can be invested in a wide variety of separate accounts, similar to mutual funds, and the choice of which of the available separate accounts to …
13Cash-Value Life Insurance — A type of life insurance policy that pays out upon the policyholder s death, and also accumulates value during the policyholder s lifetime. The policyholder can use the cash value as a tax sheltered investment (the interest and earnings on the… …
14Unbundled Life Insurance Policy — A type of financial protection plan that provides cash to beneficiaries upon the policyholder s death. A unbundled life insurance policy contains a savings and investment component that the policyholder can use during his or her lifetime or pass… …
15Variable Life Insurance Policy — A form of permanent life insurance, Variable life insurance provides permanent protection to the beneficiary upon the death of the policy holder. This type of insurance is generally the most expensive type of cash value insurance because it… …
16Equity-Indexed Universal Life Insurance — A permanent life insurance policy that allows policyholders to tie accumulation values to a stock market index. Indexed universal life insurance policies typically contain a minimum guaranteed fixed interest rate component along with the indexed… …
17Mortgage life insurance — is a form of insurance specifically designed to protect a repayment mortgage. If the policyholder were to die while the mortgage life insurance was in force, the policy would pay out a capital sum that will be just sufficient to repay the… …
18Guarantee Security Life Insurance Company — Guarantee Security Life Insurance Company, or GSLIC, represented one of the most severe cases of insurance fraud in Florida history. According to the Florida Insurance Commissioner:: [GSLIC] was, almost from the beginning, a massive fraud, aided… …
19New York Life Insurance Company — Type Mutual Industry Insurance: Life Annuity Founded 1845 …
20Total permanent disability insurance — Total Permanent Disability (TPD) is a phrase used in the insurance industry and in law. Generally speaking, it means that because of a sickness or injury, a person is unable to work in their own or any occupation for which they are suited by… …
