- Deductible
- The amount you generally pay for covered care before a health plan begins paying according to its terms.
- Copay
- A set amount you may pay for an eligible healthcare service or prescription.
- Coinsurance
- Your percentage share of an allowed cost for a covered service.
- Beneficiary
- The person or entity designated to receive a policy benefit, subject to policy terms.
- Death Benefit
- The amount payable to eligible beneficiaries after the insured’s death, subject to the policy.
- Cash Value
- A value that may accumulate within certain permanent life insurance policies, affected by premiums, charges, crediting, loans, withdrawals, and policy terms.
- Living Benefits
- Policy provisions or riders that may allow an eligible insured to access part of the death benefit after a qualifying covered event.
- Final Expense Insurance
- Life insurance commonly intended to help beneficiaries manage funeral, burial, cremation, bills, or other final costs.
- IUL
- Indexed universal life: permanent life insurance with cash-value interest-crediting tied to a market index formula under the policy—not direct investment in the index.
- Annuity
- An insurance contract that may support accumulation and/or income goals, depending on its type and provisions.
