Term
| in second-to-die life insurance, b/c the death proceeds are paid only upon the death of the second or last insured, the premiums are substantially |
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Definition
| lower than if two individual policies were issued |
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Term
| is widely used at the present time in estate planning |
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Definition
| second-to-die life insurance |
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Term
| as a result of an unlimited marital deduction, the deceased's entire estate can be left to a surviving spouse free of any |
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Definition
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Term
| in second-to-die, when the surviving spouse dies, a sizable |
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Definition
| state or federal estate tax may be due |
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Term
| would provide estate liquidity and the cash to pay estate taxes |
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Definition
| a second-to-die life policy |
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Term
| a type of life insurance that was sold originally by savings banks in Massachusetts, NY, and Connecticut |
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Definition
| savings bank life insurance (SBLI) |
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Term
| more recently is also sold to consumers over the phone or though websites |
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Definition
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Term
| objective is to provide low-cost life insurance to consumers by holding down operating costs and pmt of high sales commissions |
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Definition
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Term
| historically, was a class of life insurance that was issued in small amounts; premiums were payable weekly or monthly; and an agent of the company collected the premiums at the insured's home |
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Definition
| industrial life insurance |
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Term
| more than 9 out of 10 industrial life insurance policies were |
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Definition
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Term
| in industrial life, home collections are |
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Definition
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Term
| the amount of life insurance per policy generally ranges from $5,000 to $25,000 |
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Definition
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Term
| is relatively important and accounts for less than 1% of all life insurance in force |
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Definition
| home service life insurance |
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Term
| a type of insurance that provides life insurance on a group of ppl in a single master contract |
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Definition
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Term
| in group life, physical examinations are |
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Definition
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Term
| in group life, certificates of insurance are issued as evidence of |
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Definition
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Term
| is important in terms of total life insurance in force |
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Definition
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Term
| most group life contracts provide what type of coverage? |
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Definition
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