Forced saving occurs when consumers are restricted from spending all their income on current consumption. This can be self-imposed, contractually obligated, or enforced by government policy.
Indexed life insurance is a type of policy whose face value varies according to a prescribed index of prices, providing a death benefit that adjusts based on indices like the Consumer Price Index (CPI).
Life insurance is a policy that pays a death benefit to beneficiaries upon the insured's death in return for premiums.
An insurance coverage type that allows the insured to receive dividends based on the company's earnings, which can be used to reduce premium payments.
Whole life insurance is a form of life insurance policy that offers both protection in the event of the insured’s death and builds cash surrender value at a guaranteed rate, which can be borrowed against. The policy remains in force for the lifetime of the insured, given that it is neither canceled nor lapses. The policyholder pays a fixed annual premium that does not increase with age.
