Annuities.
A specified income payable at stated intervals for a fixed or a contingent period, often for the recipient's life, in consideration of a stipulated premium paid either in prior installment payments or in a single payment

Benefits.
A payment made or an entitlement available in accordance with a wage agreement, an insurance policy, or a public assistance program

Care-taker.
One that looks after another in absence, or in a difficult situation

Corridor.
In Universal Life insurance, it is necessary to maintain a certain level of pure insurance protection in excess of the accumulation value in order to qualify as life insurance for income tax purposes

Credit Life Insurance.
A group life insurance contract whereby a creditor is protected in the event of death of the insured prior to the indebtedness being paid in full

Current Future Service.
The amount of pension payable for each year of future participation in the pension plan

Death Benefit.
The amount stated in a policy contract as payable upon the death of the person whose life is being insured

Debt.
A liability or obligation to pay or render something

Decreasing Term.
A form of Life Insurance that provides a death benefit which declines throughout the term of the contract, reaching zero at the end of the term

Deductible.
A clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount 

Deferred Annuity.
All varieties of deferred annuities owned by individuals have one thing in common.
any increase in account values is not taxed until those gains are withdrawn. This is also known as tax-deferred growth

Disability.
A condition that prevents you from performing the major duties of your occupation

Dismemberment.
To reduce, reorganize, or discontinue the services or parts of a company.

Dividends.
A share of profits received by a stockholder or by a policyholder in a mutual insurance society

Earned Premium.
Is the portion of an insurance written premium which is considered "earned" by the insurer, based on the part of the policy period that the insurance has been in effect, and during which the insurer has been exposed to loss.

Eligibility.
Meeting the stipulated requirements, as to participate, or work; qualified

Employee Benefit Program.
Benefits offered an employee at his place of work by his employer, covering such contingencies as medical expenses, disability, retirement, and death, usually paid for wholly or in part by the employer

Equity.
The quality of being fair or impartial; fairness; impartiality

Extended Death Benefit.
A group policy provision which will pay the life benefit when (1) the insured is totally and continuously disabled at the time the policyholder stops paying premium until the insured's death, and (2) if the insured dies within one year of the date the premium payments stopped, or prior to age 65.

Family Maintenance Policy.
A policy that pays an income to the beneficiary starting after the death of the insured and continuing for a stated period of time

Finance.
The commercial activity of providing funds and capital 

Fixed Costs.
Are expenses that do not change in proportion to the activity of a business, within the relevant period

Fund.
An organization created to administer or manage a fund, as of money invested or contributed for some special purpose

Health-care.
The field concerned with the maintenance or restoration of the health of the body or mind

Immediate Annuity.
These payments may be either level or increasing periodic payments for a fixed term of years or until the ending of a life or two lives, or even whichever is longer. It is also possible to structure the payments under an immediate annuity so that they vary with the performance of a specified set of investments, usually bond and equity mutual funds

Indeterminate Premium.
Similar to non-participating, except that the premium may vary year to year. However, the premium will never exceed the maximum premium guaranteed in the policy

Limited Pay.
Similar to a participating policy, but instead of paying annual premiums for life, they are only due for a certain number of years, such as 20. The policy may also be set up to be fully paid up at a certain age, such as 65 or 80

Maturity Dates.
The maturity date is the date at which the maturity guarantee is available to the contract holder. Holding periods to reach maturity are usually 10 or more years

Medicaid.
Health program for individuals and families with low incomes and resources

Medicare.
a social insurance program administered by the United States Govt., providing health insurance coverage to people who are either age 65 and over, or who meet other special criteria

Mortgage Life.
Insurance that is meant to pay off your mortgage in case of your death while the mortgage is not fully paid

Mutual Fund.
Professionally-managed firm of collective investment

Net Asset Value.
The total value of the fund's portfolio less liabilities

Pension.
An allowance, annuity, or subsidy

Permanent Disability.
One that "will remain with a person throughout" his or her lifetime, or he or she will not recover, or "that in all possibility, will continue indefinitely."

Policy.
A document embodying a contract of insurance

Probate Protection.
If a beneficiary is named, the segregated fund investment may be exempt from probate and executor’s fees and pass directly to the beneficiary. If the named beneficiary is a family member (such as a spouse, child, or parent), the investment may also be secure from creditors in case of bankruptcy

Proportionate Benefit.
To encourage the return to work of a policyholder recovering their health, many life offices offer to pay a reduced benefit if the policyholder takes a part time or lower-paid job after recovering their health

Pure.
Defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium

Reserve.
Most commonly used to describe any part of shareholder’s equity except for basic share capital

Retained Earnings.
Refer refers to the portion of net income which is retained by then rather than distributed to its owner’s dividends.

Retirement.
Removal or withdrawal from service, office, or business

Return of Premium.
Provides both death benefit protection and a return of premium insurance feature

RSDI (Retirement, survivors, disability insurance).
Insurance taken to the form of social security payments for widows with a family to support, the handicapped and others in need of money who are not able to support themselves

Security.
Freedom from financial cares or from want; an assurance or guarantee.

Single Premium.
A form of limited pay, where the pay period is a single large payment up front. These policies typically have fees during early policy years should the policyholder cash it in

Stability.
Reliability; dependability. Financial status does not fluctuate to desperate matters

Term Life.
You pay a premium for a period of time (the term) from one to thirty years and if you die during that time the insurance is paid to the person or persons you designate to receive it - called the beneficiary(ies)

Total Permanent Disability.
Generally speaking, it means that because of a sickness or injury, a person is unable to work in their own or any occupation for which they are suited by training, education, or experience

Universal Life.
As long as the premiums are met and paid, insurance is secured for a lifetime

Valuation.
The act of estimating or setting the value of something; appraisal

Variable Life.
Permanent policies with an investment fund tied to a stock or bond mutual-fund investment

Widow.
A woman who has lost her husband by death and has not remarried

Whole Life.
A type of permanent life insurance. It’s called permanent because a whole life policy provides life-long protection and is guaranteed to do so by the insurance company
 
Worker’s Compensation.
Offers payments to employees who are (usually temporarily, rarely permanently) unable to work because of a job-related injury