Term
| under what life income option are income pmts paid to two persons during their lifetimes, such as a husband and a wife |
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Definition
| joint-and-survivor income |
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Term
| an advtg of what is that they can restore part or all of the family's share of the deceased breadwinner's earnings, so their financial security can be maintained? |
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Definition
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Term
| an advtg of settlement options is that the insurance company guarantees both |
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Definition
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Term
| w/ settlement options, there are no investment worries and administrative problems, b/c the funds are invested by the |
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Definition
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Term
| an advtg of settlement options is that they can be used in life insurance |
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Definition
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Term
| life insurance can be programmed to meet he policy owner's |
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Definition
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Term
| many insurers now offer money mkt accts for invest of the death proceeds so that the beneficiaries are not forced to make immediate decisions concerning disposition of |
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Definition
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Term
| a disadvtg of settlement options is that higher yields can often be obtained b/c interest rates offered by other financial institutions may be considerably |
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Definition
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Term
| a disadvtg of settlement options is that the policy owner may have a settlement agreement that is too |
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Definition
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Term
| w/ settlement options, the beneficiary may not have withdrawal rights or the right to |
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Definition
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Term
| a disadvtg of life income settlement options is that they have limited usefulness at the |
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Definition
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Term
| should rarely be used before age 65 or 70 |
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Definition
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Term
| if a life income option is elected at a young age, the income pmts are substantially |
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Definition
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Term
| using a life income option is the equivalent of purchasing a what which may be purchased at a lower cost from another insurer? |
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Definition
| single-premium life annuity |
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