Earned income:
Gross salary, wages, commissions, fees, etc., derived from active employment.  This does not include unearned income, such as income from investments, rents, annuities, insurance policies, etc.

Effective date:
The date on which an insurance policy goes into effect and protection is furnished.

Endorsement:
A provision added to an insurance policy, either written on the the printed policy page or added as a rider.  No endorsement is valid unless signed by an executive officer of the insurance company and attached to and made a part of the policy.

Endow:
A permanent life insurance policy is said to endow when its cash value equals the face amount.  At that point, the policyowner will receive, in cash, the face amount.

Endowment:
In life insurance, a contract which provides for the payment of the face amount at the end of a fixed period, or at a specified age of the insured, or at the death of the insured before the end of the stated period.

Endowment policy:
A life insurance policy in which the cash value and face value are equal to each other at the policy’s maturity date; a policy under which the face amount is payable on a specified future date (maturity date) if the insured is then living, or at the insured’s death, if that should occur sooner.

Estate planning:
The total process of planning an estate, including: (a) estate creation and conservation during the owner’s life; (b) the minimization of state shrinkage at death; (c) the creation of adequate liquidity for estate settlement costs; and (d) a plan for proper estate distribution to the owner’s heirs.

Estate tax:
A tax levied upon the right to transfer property at death, imposed upon and measured by the estate that the deceased leaves.

Evidence of insurability:
Any statement of proof of a person’s physical condition, occupation, etc., affecting the acceptance of the application for insurance.

Examination:
The medical examination of an applicant for life insurance, typically consisting of blood pressure readings, blood and urine specimens, height and weight measurement and medical questionnaire.  In some cases (older ages and larger death benefit), an EKG and other tests might be required.

Examiner:
Medical personnel authorized by the medical director of a company to make medical examinations.

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