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