In this article we list some more common terms used in whole life insurance articles:
Beneficiary:
A person entitled by insured to receive funds after the demise of insured is called beneficiary. For example, children are the beneficiary of their guardians.

Cash value:
The amount of money that is available for loan or withdrawal is known as cash value. Withdrawing the cash reduces death benefits.

Date of diagnosis:
A scheduled date on which a doctor examines your lest you should have any critical and deadly diseases.

Dividends:
Distribution of earnings to shareholders is dividends.

Endorsement:
An agreement attached to insurance policy that adds and subtracts the policy terms and conditions.

Face amount:
The amount stated on the face of the policy statement that company will pay certain amount of money to the beneficiary of demised.

Level Premium:
A premium that remains same throughout the period of paying premiums.

Loan:
The temporary provision of money and interest is charged when a person return it.

Paid-up Insurance:
The insurance that will remains in force when no premiums are required by the insurance company.

Permanent life insurance:
The insurance for the whole life is called permanent life insurance.

Policy owner:
A person who own or buy life insurance policy is called life is called policy owners.

Premiums:
Payments paid monthly to insurance company for getting death benefits is called premiums.

Renewal Term Insurance:
The right of renew insurance policy without showing insurability to insurance company.

Term Insurance:
Limited life insurance for a specific future period is called term insurance. For example, you may get yourself insured for next 12 years period.