Financial Planning for Generation X & Y Women
 
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Glossary of Financial Terms

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Whole Life
A type of life insurance that provides protection for life or until you reach age 100. If you live to 100, the insurance would end, and the insurance company would send you a check for the face value of the policy. If you die before 100, the insurance company will pay your beneficiaries the death benefit.
Will
This legal document names the person you have designated as executor of your estate, specifies how you want the assets of your estate to be distributed after any debts and taxes are paid, and states who will care for your minor children. The will goes into effect