Chapter 13 b - Decreasing-term insurance a form of term...

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Decreasing-term insurance: a form of term insurance in which the benefits that will be paid to the beneficiary are reduced over time and the premium remains constant Mortgage life insurance: life insurance that pays off a mortgage in the event of the policyholder’s death Group life insurance: term insurance with generally lower than typical premiums that is available to people within a defined group Financial Planning Online: Buying Term Life Insurance Go to: http://moneycentral.msn.com /home.asp This Web site provides step-by-step instructions on shopping for term life insurance Whole life insurance (permanent insurance): life insurance that continues to provide insurance as long as premiums are paid; not only provides benefits to the beneficiary but also has a cash value Whole life premiums Used for life insurance and savings Paid on a monthly, quarterly, or annual basis Constant for the duration of the policy Savings may be used to pay premiums
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This note was uploaded on 02/22/2012 for the course FINANCE 250 taught by Professor Maryevans during the Spring '12 term at Rutgers.

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Chapter 13 b - Decreasing-term insurance a form of term...

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