Old school
The return of excess premium paid annually, if any, to owner of a participating life insurance policy based on insurer’s performance and experience over a given a period
Dividends
The process of seeking potential buyers of your product. It is an ACTIVITY!
Prospecting
It is the only VUL product that gives protection up to age 100.
Sun Maxilink 100
Provides fixed amount of daily cash benefit in case of hospitalization. Benefit doubles if the Insured is confined in an Intensive Care Unit (ICU) or if hospital confinement is due to any of the specified dread diseases such as acute heart attack, stroke and invasive cancer, among many others.
Hospital Income Benefit or HIB
A participating, limited-pay whole life critical illness product that provides a combined benefit of savings and comprehensive health protection until age 100.
Sun Fit and Well
The act of securing or setting up an appointment with a prospect or an existing client for a future time to allow proper sales presentation.
Approach
It is the premium paid in excess of the annual regular premium
Excess Premium
A non-participating 5-year renewable term rider which pays the face amount upon diagnosis of critical illness while the insured is alive.
Critical Illness Benefit or CIB
The guaranteed amount received in case the plan is terminated prior to the death of the insured or maturity of the policy, provided that premiums are paid as scheduled
Cash Value
True or False. You can use Zoom to present to your prospects.
True
It is a life insurance policy that offers both insurance protection with benefits (or fund value) directly related to the performance of the investment funds chosen by the client.
Variable Unit Linked Insurance or VUL
A rider that provides financial assistance; percentage of the face amount for Female Specific Critical Illnesses.
Female Critical Illness Benefit
It is a kind of insurance that provides PROTECTION only for a specified period.
Term Insurance
Anything that the prospect says or does that is an obstacle to smooth closing.
Objection
A limited-pay VUL payable for at least 10 years with coverage up to age 88
Maxilink Prime
A rider that provides waiver of all premiums if disability commences prior to age 60.
Total Disability Benefit or TDB
A 10-year non-participating hospital income Simplified Insurability Offer (SIO) product with money back feature (return of premium).
Sun First Aid
It is the final transaction between a buyer and seller of a product. An agreement has been sealed.
Closing
A VUL feature of Regular Premium VUL which allows the advisor to tailor fit the financial need and product solution of the client based on his financial requirements (number of years, target FV, age, amount etc).
Premium Holiday
Waives regular premiums before the attainment of age 21 by the life insured child or end of premium paying period of base plan, whichever is earlier, in case of death of initial owner.
Waiver of Premium Upon Death or WPD