Type of term insurance that gives a death benefit that remains the same during a specified period. Premiums usually remain the same throughout each term of coverage.

Insurance commission table that provides different percentages for the first and renewal years of a policy. Also known as heaped commission schedule .

Plan that borrows money and uses the funds to purchase stock of the employer. In turn the employer makes contributions to the plan on behalf of the participating employees. These are tax deductible for the employer and tax deferred for the employee. The ESOP uses the contributed money to pay the loan back and slowly gives the stock to the employees. Also see employee stock ownership plan (ESOP) .