Acquisition fees: costs that need to be paid to obtain service as an insurance customer, including policy issuance, payment of agent fees, and insurance company’s operating costs. Automatic premium loan: automatically takes the cash value you have on the policy if you postpone your premium payment until the due date. Cash value: an amount of money, which is the redemption value of the policy in a certain period and is guaranteed as the right of the policyholder. Claim: a formal request submitted by the policyholder to the insurance provider to pay the policyholder's rights according to the existing procedure. Insured party: the party who is guaranteed a loss when a risk occurs according to the policy. Lapse: a condition of a life insurance policy that is canceled due to unpaid premiums beyond the grace period of payment. Policy: a written and legally enforceable insurance cooperation agreement between the insurance company and the policyholder. Premium: nominal payment for life insurance policies that have been approved by the policyholder. Rider: additional insurance benefits that you can include in the basic insurance that has been selected. Generally, riders cannot be purchased separately. Sum insured: an amount of money that must be paid by the insurance company in the event of a claim from the policyholder for risks that have been guaranteed in the policy.