Vocab
cause of loss, accident/earthquake
What is a peril?
Combats inflation, tied to consumer price index, benefit increases with increase in premium
What is cola?
insurance providing most coverage for lowest cost, for a period of time, temporary
What is term insurance?
download the free Primerica app in the first 24 hours to get this credit
What is $50?
type of risk that involves gain or loss, gambling
What is speculative risk?
If insured becomes disabled for at least 6 months the insurer will pay premiums keeping policy in force
what is waiver of premium rider?
Policy with a separate account for investments, governed by Finra, have to be securities and insurance licensed to offer it
What is variable.life insurance?
10 3 1
What is If you invite 10 people to Opp night, 3 will show up and usually 1 will get involved?
if you do 3x3k this is promotion and cash bonus
What is Sr Rep and $900?
having unequal values, small premium for large coverage
What is aleatory?
allows insured to buy more insurance at specific ages without proof of insurability for additional premium
what is guaranteed insurability rider?
policy that covers two people and pays out only upon the death of the second
What is second to die or survivorship life?
8 5 3 1
What is having 8 appointments set, 5 happen 3 become a client and 1 does the business?
Fear stands for
What is false evidence appearing real?
Type of hazard that involves apathy, reckless behavior, drunk driving
What is a morale hazard?
allows insured to take a portion of the death benefit early if diagnosed with a terminal or critical illness, death expected within 2 years
what is accelerated benefit rider
Type of policy that has annual renewable term with a cash value that gives a current interest rate, has a flexible premium and death benefit
What is a universal life policy
If someone says they don't have life insurance outside of work what question do you ask
When a responsible family doesn't have life insurance outside of work, its for one of these 3 reasons, they didn't understand it, didnt think they could afford it, or never got around to it, which out of these 3 was the reason?
this activity in a month puts you at a district contract at 50% and would give you $1800
What is 6x6k?
nonforfeiture option where cash value is used to keep coverage the same as the original for a period of time
What is extended term option?
in case person paying the premiums dies or becomes disabled, the insurer will continue policy til child is older usually 21 or 25
What is the payor rider?
Policy that covers the primary with whole life and the other family members with decreasing term
what is a family income policy?
Guest speakers on Thursday
Who are Mario Munoz and Ron Heagy?
qualifications to win Youngers Disney contest
what is 2x10k for 3 months?