Life Insurance Phrase Book
|
NOTICE: This content is in pending
status and not visible to those without the url...
|
|
bit.ly/32k9BJi
|
|
Posted By: Felicia Bell on September 11, 2020 It can sometimes feel like there’s a life insurance language barrier. Words and ideas seem designed to confuse and trick you. But you might be surprised by how simple the concepts and terms actually are once they’re explained. Consider this article your personal life insurance phrasebook to help you cut through the lingo and better understand the products you’re exploring. Let’s start with the basics! - Policy and Policy Holder A life insurance policy is a contract between you and an insurer stating that they will pay out a certain amount of money upon your passing (or another event specified in the policy). The policyholder is the person who owns and controls the policy. - Death Benefit The money that gets paid out from the policy when you die. - Beneficiary You, as the policyholder, get to decide where the death benefit will go. The people who receive the money are called beneficiaries. That could be a spouse, child, or anyone who depends on your income. - Premium The payment you give the insurer in exchange for the life insurance policy is called the premium. You might have to pay these monthly or annually. - Term Life Insurance Some life insurance covers you for a specific amount of time. Your beneficiaries only receive the death benefit if you pass away during that time frame. This is referred to as Term Life Insurance. It’s typically considered the most straightforward form of life insurance available. - Permanent Life Insurance Another type of life insurance lasts for your entire life. This is called Permanent Life Insurance. There are multiple subcategories of permanent life insurance. - Cash Value Some permanent life insurance options come with a savings component. This is called a Cash Value. You can usually borrow against the cash value and spend the money on whatever you please! This isn’t an exhaustive list of life insurance words and phrases, but it should be the minimum to get you started. Consider reaching out to a financial advisor to act as your translator as you dive deeper into the language of life insurance! If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
 |
Felicia Bell
Diversity and Inclusion Manager, Bechtel Howard University class of 1984 Member Since September 2020 |
Comments
More From This Author
Latest Health & Wellness
 |
PROMOTING MENTAL HEALTH AND WELLNESS AT HBCUSJuly is Minority Mental Health Month, a crucial time to highlight the mental health crisis affecting communities of color in America, particularly Black students. According to the Office of Minority H ...more
Catalina Deossa • 1,056 Views • July 30th, 2024 |
 |
HBCUS LEADING THE WAY IN MEDICAL DIVERSITY: THE IMPACT OF ABBOTT SCHOLARS PROGRAMSAbbott Laboratories has partnered with four Historically Black Colleges and Universities (HBCUs) through the Abbott Scholars Program to address the lack of diversity in the medical field. Launched in ...more
Catalina Deossa • 690 Views • July 24th, 2024 |
 |
EMPOWERING HBCU STUDENTS: BRIDGING GAPS IN SEXUAL AND REPRODUCTIVE HEALTHLaunched in 2023, "Beyond the Sheets" is an initiative spearheaded by Power to Decide aimed at addressing critical gaps in sexual and reproductive health services specifically within Historically Blac ...more
Catalina Deossa • 655 Views • July 19th, 2024 |
 |
NSU: CULTURALLY EMPOWERED HEALTHDr. Shelia Ward has played a transformative role at Norfolk State University (NSU) through her extensive efforts in health initiatives, benefiting students, faculty, staff, and the broader community. ...more
Catalina Deossa • 666 Views • July 18th, 2024 |
 |
THE UNIVERSITY OF KANSAS CANCER CENTER INTRODUCES C-CLEAR: EMPOWERING FUTURE CLINICAL RESEARCHERSThe University of Kansas Cancer Center launched the CAREERS in CLINICAL RESEARCH PROGRAM (C-CLEAR Program) this summer, designed to introduce college students in the region to the dynamic field of cli ...more
Catalina Deossa • 472 Views • July 17th, 2024 |
Popular Health & Wellness
 |
BENEFITS OF UNSWEETENED APPLESAUCEhile good health is more complex than eating an apple a day to keep the doctor away, fruits and vegetables provide undeniably crucial nutrition vital for good health. Whether apples are whole or made ...more
How May I Help You NC • 48,714 Views • June 25th, 2019 |
 |
Pediatricians: Partners in Helping Parents Quit SmokingPediatricians: Partners in Helping Parents Quit Smoking
by Dr. Brian Jenssen
Secondhand smoke (SHS) exposure affects approximately 40 percent of the children in the United States, increasing their ...more
How May I Help You NC • 46,698 Views • July 18th, 2019 |
 |
Boris Kodjoe and Nicole Ari Parker Launch 'Kofit' Wellness App At Essence FestDo you want to get fit but don't have time to hit the gym? Boris Kodjoe's new app is the perfect solution.
Whether you’re a working mom juggling multiple responsibilities or an entrepreneur who is ...more
How May I Help You NC • 20,586 Views • July 19th, 2019 |
 |
Get your free Caregiver Notebook.Keep track of the health information of the person in your care. Choose just the pages you need, or download all of them to create a complete Caregiver Notebook.
...more
Reginald Culpepper • 17,025 Views • April 4th, 2018 |
 |
Energizing Ginger Carrot JuiceWho knew ginger could taste good in juices? Try our ginger carrot juice.
#Juicing
Ingredients
2 carrots
½ honeydew
2 apples
½ orange
1 mango
1 thumb of ginger
½ lemon
Directio ...more
How May I Help You NC • 16,890 Views • July 16th, 2019 |
