Life Insurance: Common Terms and Terminology

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Getting the most value out of any product or service you pay for starts with gaining a full understanding of exactly what that product or service is, why it's important for you and how much it should and will cost. Life insurance is no different and in fact, when it comes to something as important as life insurance, the difference between picking out the right coverage and leaving things to hope when you eventually depart this earth can often be traced back to something as simple as your understanding of the common terms used to define and describe the various elements which make up the service agreement.

Life Insurance Terms

Fortunately though life insurance is a service which for the most part is genuinely aimed at helping people continue to provide for their financially dependent loved ones from the grave, and so the typical insurer offering a life insurance service isn't out to confuse you with jargon and the type of ambiguity you'd find in something like the legal field. However, it does help and is in actual fact a prerequisite for you to at least be familiar with the common life insurance terms and jargon, just so that you don't have to refer to a dictionary every single time something important is mentioned by its official term.We've put together an interactive quiz with the purpose of helping you acquaint yourself with the common terms used around life insurance services, and what we believe to be a relatively easy quiz is hopefully fun to complete. Remember that the aim is not to trick or confuse you, so don't break your head over any of the questions. Your take-away from this quiz should be a much better understanding of some common terms you'll come across should you be in the process of looking at taking out life insurance.

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