LIFE INSURANCE ONLY CALIFORNIA Questions and answers 100% VERIFIED

LIFE INSURANCE - Insurance that pays out a sum of money either on the death of the insured person or after a set period. TERM LIFE INSURANCE - Life insurance that pays a benefit in the event of the death of the insured during a specified term. *PURE *ONLY DEATH BENEFIT NO CASH VALUE WHOLE LIFE INSURANCE - Life insurance that pays a benefit on the death of the insured and also accumulates a *PERMANENT *DEATH BENEFIT & CASH VALUE. UNIVERSAL LIFE INSURANCE - Flexible permanent life insurance offering the lowcost protection of term life insurance as well as a savings element (like whole life insurance), which is invested to provide a cash value buildup. LOW PREMIUM & CASH VALUE VARIABLE LIFE INSURANCE - Permanent life insurance policy with an investment component. LEVEL TERM LIFE INSURANCE - Provides the same amount of coverage for a specific length of time, over which you pay the same premium. DECREASING TERM LIFE INSURANCE - Annual renewable term life insurance that provides a death benefit that decreases at a predetermined rate over the life of the policy. ANNUITY - *Insurance product that pays out income, and can be used as part of a retirement strategy. *Fixed sum of money paid to someone each year, typically for the rest of their life. DEFFERED ANNUITY - Annuity that commences only after a lapse of some specified time after the final purchase premium has been paid. SINGLE PREMIUM DEFERED ANNUITY (S.P.D.A) - Annuity contract that is established with a single lump-sum payment by the owner. *ANNUTIY GROWS ON A TAX DEFERRED BASIS UNTIL ANNUITIZATION. PRINCIPLE OF INDEMNIFICATION - LIFE INSURANCE IS DESIGNED TO MAKE SOMEONE WHOLE AGAIN (INDEMNIFY) NOT TO ENRICH. BENEFICIARY - PERSON, ORGANIZATION, BUSINESS, OR THE ESTATE OF THE INSURED TO RECEIVE TO BENEFITS. -PRIMARY BENEFICIARY - 1ST -CONTINGENT/SECONDARY BENEFICIARY - 2ND -TERTIARY BENEFICIARY - 3RD LIFE INSURANCE PURPOSE - PROTECTION AGAINST LOSS OF INCOME.