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+# 7 
+
+## 7.1 Life Insurance
+
+1.   Calculate life insurance premiums
+2.   Calculate the net cost of life insurance
+3.   Calculate the cash and loan values of a life insurance policy
+
+-   **Life insurance** is a way of protecting your family from financial hardship when you die.
+    -   **The insured:** the person whose life is covered
+    -   **The insurer:** the insurance company
+    -   **The contract:** states the amount of insurance to be paid upon the death of the insured, or the death benefits of the policy. 
+-   **Beneficiary s:**
+    When the insured dies, death benefits are paid to the beneficiary. The beneficiary is the person named in the policy to receive the death benefits.
+-