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Insurance Terms
You'll find everything you need to know about life insurance here. Our Research Center is different
because we only offer material which is explained in "Plain English".
To get started, let's take a look at common Insurance terms, and make it easy to understand what they mean:
These definitions are courtesy of the American Council of Life Insurers
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Endowment Life insurance payable to the policyholder on the policy's maturity date, or to a beneficiary if the insured dies prior to that date.
Evidence of insurability The common requirement by life insurance companies that potential policyholders undergo a physical examination or medical tests, such as blood pressure or cholesterol screening, before the applicant can purchase an individual life insurance policy.
Extended term Insurance A form of insurance available as a nonforfeiture option providing the original amount of insurance for a limited time.
Extra Risk A person possessing a greater-than-average likelihood of loss.
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