This is the person to whom the death benefit will be paid.

Amount that pays out upon the policyholder's death, and also accumulates value during the policyholder's lifetime.

This is the dollar amount that will be paid out to a beneficiary when the insured under the policy dies. This amount does not include various adjustments such as late premiums, outstanding policy loans, different death benefit options, collateral assignment(s), paid-up additions or dividends.

An insurance program designed not only to provide funds for client's dependents upon the death of the insured, but also to conserve, as much as possible, the personal assets that the client wants to bequeath to heirs. Estate planning usually involves accountants, lawyers, and the trust officers of banks, as well as insurance agents.

the person whose life is insured by life insurance, after whose death the benefits go to others.

Is the termination of an insurance policy because a renewal premium is not paid before the end of the grace period.

Is a premium that remains unchanged while the policy is in force.

The frequency with which premiums are paid. Examples are annually, semi-annually, quarterly, and monthly.

The person or people who own an individual insurance policy. The policyowner is not necessarily the person whose life is insured.

This is the anniversary date on which the policy was issued.