Life Insurance terms starting with C

5 terms

1. Cash Value (Cash Surrender Value) The amount available in cash upon surrender of a policy before it becomes payable upon death or maturity.
2. Convertible Term Insurance Term insurance that offers the policyholder the option of exchanging it for a permanent plan of insurance without evidence of insurability.
3. Cost Index A way to compare the costs of similar plans of life insurance. A policy with a smaller index number is generally a better buy than a comparable policy…
4. Cost-Of-Living Rider An option that permits the policyholder to purchase increasing term insurance coverage.
5. Current Assumption Whole Life A variation of universal life insurance, this product involves fixed premiums and fixed death benefits. Its cash value growth depends on market conditions.