What Does It Mean? 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 Description Loss prevention A. B. Convertibility Risk assumption Decreasing term policy D. Cash value E. F. This is an activity that reduces the probability that a loss will occur. This is a method of determining the amount of life insurance coverage needed by considering a person's financial obligations and available resources, including any life insurance. This is an insurance policy that maintains a level premium throughout all periods of coverage while the amount of death benefit protection decreases over the same period. This is a provision of a term life policy that allows the insured to convert the policy into a comparable whole life policy. This is one of the largest insurance rating agencies in the United States. This provision of an insurance contract permits the policyholder to retain full death protection for a short period of time after missing a premium payment date. This refers to the practice of accepting and incurring a risk of loss. This clause in an insurance policy increases the policy's face amount if the insured dies in an accident. This is permanent cash-value insurance that provides both the death benefit and a tax- sheltered savings or investment account that earns a competitive rate of interest. This refers to the accumulated refundable value of an insurance policy. Multiple indemnity clause Needs analysis method Grace period G. H. A.M. Best Company I. Universal life insurance