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Term Life Insurance
A type of life insurance policy that provides coverage for a specified period ('term'), offering a death benefit if the insurer dies during that term.
Premium
The amount paid for an insurance policy, often on a monthly, quarterly, or annual basis.
Beneficiaries
Individuals or entities entitled to receive benefits or proceeds from an insurance policy, will, or trust.
Roth IRA
Deposits are taxable, but when the money is withdrawn after having been there for at least 5 years and the saver is at least 59 1/2 years old, the money and the income earned is tax-exempt, or free from all taxes.
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