Term
Term Life Insurance is generally not available for purchase after _______ years.
What is 70
A permanent insurance that provides a cash surrender value or dividends.
What is Whole Life Insurance
Is a T-100 Policy considered Temporary or Permanent insurance?
What is Permanent Insurance
Universal life is unique from others in that it offers insurance and __________
What is Investments
Supplementary beneifts and riders will ___________ the premiums.
What is increase
What is Increasing Term Insurance
A whole life policy that provides dividends is
What is a participating
Unlike Whole Insurance, T-100 does not have dividends or _______
What is a cash surrender value
What is the owner
Provides an amount above the face value if the insured life dies by accident.
What is Accidental Death Benefit (ADB)
A Term policy that has an option to renew the term and convert to a permanent policy is
What is an R&C term
If a client cancels a non-participating whole life insurance and receives the cash surrender value, there could be a tax liability in the form of
What is a Capital Gain
If the life insured reaches a 100 they do not have to pay anymore __________________
What are premiums
What is Insurance, Investment and expenses
Allows the owner to increase the amount of the face value without evidence of insurability
What is Guaranteed Insurability Benefit (GIB)
When a term policy is renewed the owner can expect ______ premiums.
What is higher
The policy owner can receive a loan using the ___________ as collateral.
What is the cash surrender value
If the life insured reaches 100, they can keep the policy in force, or it can be
What is paid out
A universal life policy whose premiums will increase annually.
What is a Yearly renewable term (YRT)
What is accidental Death and Dismemberment (AD&D)
A person requiring a larger amount of insurance now but expects this need to decrease will likely choose a
What is a Decreasing Term Policy
A creditor cannot take the CSV of a whole life insurance if there is a
What is a preferred beneficiary
T-100 insurance is usually the least _________ of the permanent insurances.
What is expensive
In a universal life policy, a death benefit option that protects against inflation.
What is Indexed deah benefit
A rider that allows for children to be covered for life insurance at a flat fee.
What is the Additional Lives Insured Rider