Term
| Convertible Term Insurance |
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Definition
| A term insurance that can be converted at any time to permanant type of found that if coverage without any proof of insurability. Conversion premiums are based on current age and coverage cannot be increased. Most term is convertible, but not all. Most group insurance, usually annual renewable term is convertible by law during its 31 day grace period. |
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Term
| Decreasing term insurance |
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Definition
| Term insuranc whose amount of coverage starts out at the full amount, then gradually decrease is a until expiration date of the policy. Generally, that she is type of Life Insurance, but has no cash value and cannot be renewed. Often use as mortgage protection insuranc. |
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Term
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Definition
| A cash value life policy or which premiums are paid for a limited number of years, such as to age 65. If the insured is still alive at the end of its premium paying period. He or she received a base amount of the policy if if the insurer dies before maturity of the policy, the beneficiary receives all the proceeds generally the most expensive and time enough cash value Life Insurance since the policy reaches maturity prior to age 100 endowments are often purchased to supplement retirement for children's educational purposes. |
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Term
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Definition
| A Life Insurance non for future option, under which the insured uses the policies of cash value accumulation to purchase one year renewable term insurance in an amount equal to the original policy face amount. Although the policyholder code selects the extended time auction at any time if the policy lacks is in no other non forfeiture option has been selected, the policy will automatically go into extended term. Remember there are three in bonds for future option cash surrender reduced paid up and extended term, |
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Term
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Definition
| Adding to a whole life policy on additional premium, this writer these similar to the decreasing time writer executive of payments to the beneficiary are in the form of monthly income rather than a lump sum for example if you added eight tenure $100,000 FIR two your policy and died five years later your family would receive the $10,000 a year for five years plus the face amount of your whole life policy remember the winery is term insurance you must die in the time if you died after 11 years the writer would not cover but the whole life would sense whole life is permanant insurance covering to age 100 |
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Term
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Definition
| A settlement option under which the beneficiary receives a fixed amount such as $500 a month for a unspecified. Of time payments continue into the principal and interest are depleted |
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Term
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Definition
| A settlement often under which t beneficiary receives a regular income for a specified period of time such as 10 years at which time the principal and interest are depleted the name speaks for itself |
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Term
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Definition
| Life Insurance a person is eligible to purchase through membership in a group. It may not be formed just to buy insurance. Grove insurance it is usually less expensive than individual coverage. Remember you cannot form a group just July insurance it must exist for some other purpose |
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Term
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Definition
| Life Insurance generally with a face amount of less than $1000 with premiums collected monthly or more frequently by the producer in Carson advice. For the stock major is 28 games also known as homes are days |
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Term
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Definition
| A settlement under which the insurer keeps the insurance proceeds and invests them on behalf of the beneficiary. The beneficiary receives the interest from the investment. The proceeds remain the property of the beneficiary. The proceeds are not taxable but the interest earned is |
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Term
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Definition
| The amount of insurance protection in Term policy remains constant during 10 20 or even to age 65 ex:5 yr level term face amount would remain the same and premium at renewal of 5 th yr premium increases term has no cash value and eventually expires term=temp to be covered you must die in the term |
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