Insurance Flashcards
1
Q
Affording
A
If you can’t insure an asset you can’t afford
2
Q
Term insurance
A
pure insurance
form of life insurance that gives beneficiaries renewable payments if you die
3
Q
Cash value
A
more expensive
gives beneficiaries premiums in form of an investment account that compounds tax deferred
4
Q
Insurance Level Required
A
Enough to protect against large loss / expenses
5
Q
Agent incentive
A
Fixed fee is better because if they make commission they may not keep your best interest in mind
