Match the terms associated with managing your use of life insurance on the left with the descriptions of the terms on the right. Read each description carefully and type the letter of the description in the Answer column next to the correct term. These are not necessarily complete definitions, but there is only one correct description for each term. Term Answer Risk avoidance A. Insurance policy B. Fixed period settlement C. Policy loan D. | Underwriting E | Description This is a cash advance, secured by the cash value of a whole life insurance policy, made by an insurer to the policyholder. This refers to a method of determining the amount of life insurance coverage needed by multiplying the insured's gross annual earning by some selected number. This is a provision of a term life policy that allows the insured to renew policy at the end of its term without having to show evidence of his or her insurability This method of settling a life insurance policy requires the insurer to disburse the face amount of policy and any interest earned to the beneficiantes over a fixed time period. This is the process by which insurers decide who can be insured and the appropriate rates and premiums. This is an optional provision in a life insurance policy that gives the policyholder the right to purchase additional coverage at specified time intervals without providing additional evidence of insurability. This is a contract between an insurance company and insured in which the insurer agrees to reimburse the insured for any losses suffered according to the terms of the contract. This is life insurance that provides a master policy for a group of eligible members, and for which the premium is based on the characteristics of the entire group rather than on the attributes of an individual member. This refers to the practice of avoiding an act that would create a risk. This is life insurance that is designed to offer insurance coverage over an insured's entire life, and which offers both a death benefit and a saving function. Guaranteed purchase option F. Group life insurance G. Whole life insurance Renewability Multiple-of-earnings approach 1. 3