Life Insurance Basics
This type of insurance provides coverage for a specific period, such as 10, 20, or 30 years.
What is Term Life Insurance
This amount must be paid by the insured before the insurer begins paying benefits.
What is the deductible?
This state official oversees insurance regulation in Missouri.
Who is the Director of Insurance?
This rider waives premiums if the insured becomes totally disabled.
What is the waiver of premium rider?
This type of annuity begins payments within one year of purchase.
What is an immediate annuity?
The person who receives the death benefit is known by this term.
Who is the beneficiary?
HMOs emphasize this type of care to reduce long‑term costs.
What is preventive care?
Missouri requires this number of hours of continuing education every two years for producers.
What is 16 hours?
This provision allows the policyowner to change the beneficiary at any time.
What is revocable beneficiary designation?
The period when the annuity is growing but not yet paying out is called this.
What is the accumulation period?
This feature allows a policyowner to exchange a term policy for a permanent one without proof of insurability.
What is the conversion privilege?
This type of provider network allows out‑of‑network care but at a higher cost.
What is a PPO?
his term describes using misleading comparisons to persuade someone to replace a policy.
What is twisting?
This rider provides additional coverage for children under a parent’s policy.
What is the child term rider?
This type of annuity offers a guaranteed minimum interest rate.
What is a fixed annuity?
This nonforfeiture option provides the highest amount of insurance protection.
What is extended term?
A doctor who coordinates all care and provides referrals in an HMO is called this.
What is a primary care physician?
Missouri requires insurers to provide this many days for a free‑look period on life insurance policies.
What is 10 days
This provision states that only the policy and the application make up the entire contract.
What is the entire contract provision?
Payments that vary based on investment performance come from this type of annuity.
What is a variable annuity?
This type of policy combines insurance protection with a savings component that grows tax‑deferred.
What is whole life insurance?
This clause prevents an insurer from denying a claim after a policy has been in force for two years.
What is the incontestability clause?
This act protects consumers from unfair claims practices in Missouri
What is the Unfair Claims Settlement Practices Act?
This rider accelerates a portion of the death benefit if the insured is diagnosed with a terminal illness.
What is the accelerated benefits rider?
This settlement option guarantees payments for the annuitant’s lifetime, even if they live longer than expected.
What is life‑only (straight life)?