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Insurance Terminology
Types of Life Insurance
Riders
Union Abbreviations
AIL
100
The three people involved in a life insurance policy.
What are the policyholder, insured, and beneficiary?
100
The simplest form of life insurance which is paid out only during a specific time period once the insured has died.
What is Term life insurance?
100

This rider pays 1/2 of the face amount on an insured's policy to them in the event that their physician certifies that the insured is not expected to live more than 12 months. 

What is the Terminal Illness Rider?

100

APWU

What is the AMERICAN POSTAL WORKERS UNION

(Postal Workers)

100

In 2000, AIL licensed National Income Life Insurance Company (NILICO) as its subsidiary in this state. 

What is New York?

200
The amount of money that a beneficiary receives at the time of the insured’s death.
What is the death benefit or face value?
200
Permanent insurance lasting for as long as the premiums are paid up to the age of 100.
What is Traditional whole life insurance?
200

I allow you to address permanent and short term needs in one policy.

What is a term rider?

200

IATSE 

What is the INTERNATIONAL ALLIANCE OF THEATRICAL STAGE EMPLOYEES

(Stagehands)

200

In September of this year, American Income Insurance Company became American Income Life Insurance Company (AIL). 

What is 1954?

300

The person named on an insurance policy who will recieve money in the event of death.

What is the Beneficiary?

300

The company extends the policy beyond the first term without a physical examination.

What is a Renewable term policy?

300

I will cover the premiums, if you are disabled over 90 days.

What is Waiver of Premiums for Disability Rider?

300

IAMAW

What is the INTERNATIONAL ASSOCIATION OF MACHINISTS AND AEROSPACE WORKERS

(Machinists) 

300

In 1951, Harold Goodman and his nephew, Bernard Rapoport, founded American Income Insurance Company with $25,000 of borrowed capital by chartering an office in this city. 

What is Indianapolis, Indiana?

400

Works for an insurance company and is basically tasked with figuring out how risky a client is to ensure — or what classification they belong in

What is an underwriter?

400

I am obtained to cover end-of-life costs of the insured.

What is Final Expense Coverage?

400

I allow you to buy more insurance over time, no matter what your health condition is.

What is the Guaranteed Insurability Option (GIO)?

400

AFSCME

What is the AMERICAN FEDERATION OF STATE,COUNTY,AND MUNICIPAL EMPLOYEES

(City Workers)

400

The year that American Income was granted an official designation as a Union Label Company by the AFL-CIO. 

What is 1973

500
Provision or feature, purchased separately to provide additional benefits
What is a rider?
500

I have level premiums and an annually decreasing death benefit. I can be purchased for two different term lengths. I am convertible for up to two years prior to the end of my term. 

What is a Decreasing Term Policy? (15 or 30 years) 

500

I provide $10,000 in life insurance for each child in the household.

What is the Child Rider?

500

BAC

What is the BRICKLAYERS AND ALLIED CRAFTWORKERS 

(Bricklayers)

500

In this year, executive offices of AIL moved to Waco, Texas. 

What is 1958?