Insurance, Investments and Group Benefits

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Tip of the week  #3: Learn the insurance lingo

Helpful Tips, Insurance

Posted by Empire Life

Sep 15, 2020 8:30:00 AM

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We’ve done the “why” and the “how” of owning life insurance, this week it’s time to look into the “what” as in “what are they talking about?”

One thing you may have noticed is that life insurance has a language of its own. It’s worth the effort to brush up on the lingo and become familiar with some key insurance terms. A little homework now can help you better understand your policy and should make the entire process easier down the road.

You may be thinking: “a couple of weeks ago you had me doing math. Now I’ve got homework?!” Not to worry, we’ve put together a handy glossary of these terms to help you. It’s even got pictures! Next week we’ll put all of your new knowledge to the test and look at which type of life insurance could be right for you. (It’s not an actual test.)