Exam term

Fixed life insurance

Traditional life insurance, such as whole life, backed by the insurer's general account. The insurer guarantees the death benefit, premium and cash values and bears the investment risk, so it is regulated as insurance only.

Lessons that use this term

Fixed versus variable life, and SEC, FINRA, and New York regulation of variable products (Ins. Law 4240, Regs 47 and 77) New York