Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
9 Cards in this Set
- Front
- Back
Term (Temporary) Life
|
Less Expensive, affordable
Match Period of Need Renews at higher cost Often lapsed No CSVTerm 100 Reducing Term |
|
Permanent (Whole) Life
|
Coverage for ENTIRE LIFE
CSV Usually has DIVIDENDS Expensive Paid Up Policys Dividends Reduce Cost |
|
Universal Life
|
Control of Investments
FLEXIBLE Risks & Potential for Loss Vary amounts of insurance and types of investments |
|
Life Annuities
|
Income for life
Guaranteed return RRSP eligble can pay 2nd lifetime gurantee return of capital can index to inflation |
|
Term Certain Annuties
|
Matches Need
Can run out of $$ Pays for X years or to selected AGE |
|
Critical Illness
|
Pays out for serious illness
Limited to specific disease Distracts from total needs |
|
Disability Income
|
Coverage to age 65
EXPENSIVE, Limited Supplements provicial coverage |
|
Overhead Expses Insuarnce
|
Pays office costs
Premiums ARE DEDUCTIBLE |
|
Segregated Funds
|
RRSP Eligible
Guaranteed Returns Different Disclosure Creditor Protection |