Life insurance is certainly a necessary. If you have financial commitments that could come to be a problem when you pass away, you should be protected. But often that’s much easier said than done. For senior citizens, final expense life insurance or guaranteed issue life insurance are strategies to get a reasonably inexpensive whole life […]
In life insurance, used to designate that official or person in the home office who, collating all the facts about the risk, accepts the risk and assigns the rate, or declines the risk – the home office underwriter.
The process of selecting risks and classifying them according to their degrees of insurability so that the appropriate rates may be assigned. The process includes rejection of risks.
Universal life insurance:
A type of permanent life insurance. With universal life insurance, the insurance company assumes an interest rate and the cost of insurance and projects a premium. If the insurance companies’ projections do not come through, then you may have to come up with higher premiums later, have lower than expected cash values or even lose the policy. However, with the addition of a no-lapse guarantee rider, this can be avoided.
Variable universal life insurance:
A permanent life insurance policy with sub-accounts for various investments similar to mutual funds. A policyowner can select which account to “invest” the policy’s cash value.
Waiver of premium:
A rider available with most life insurance policies which exempts the insured from the payment of premiums after he or she has been disabled for a specified period of time.
Whole life insurance:
A plan of insurance offering protection for the whole of life, proceeds being payable at death. Premiums may be paid under a continuous premium arrangement or on a limited payment basis for virtually any desired period of years.
Yearly Renewable term insurance:
Renewable term insurance under which the successive terms are for one year.
Visit these links to learn about:
Get instant life insurance quotes:
To speak with a licensed representative, contact us or call 866-691-0100
Any closely held small business, like a real estate brokerage, small law firm, or other small service business, whether recently created or well established, should have a specified business continuation strategy to financially accommodate the chance of a proprietor or partner dying, entering retirement, or becoming disabled. The Buy-Sell Agreement will expressly determine how the […]
Tools for Budgeting That Create Financial Stability Spending your money blindly will only lead to trouble. Unless you’re raking it in with few to no monthly bills, tracking and managing your personal expenses is a surefire way to create financial stability. You need to be able to see how much money you have coming in […]