Life Insurance Programming
Process used to determine the amount of life insurance required on the life of the prospective insured. The process involves an analysis of the prospective insured's current financial condition (income, expenses, liquid and nonliquid assets, liabilities, savings, and investments), the financial objectives of the policyowner, the development and installation of a plan designed to achieve these objectives, and the periodic monitoring of the plan to determine the extent to which the plan is achieving the objectives.
Popular Insurance Terms
Act by a company that authorizes an agent to act on its behalf. ...
Coverage for a physical structure, machinery, inventory, and merchandise within the structure in the event of earthquakes, flood collapses, and subsidence strikes. Even though coverage is ...
Tort of wrongful physical confinement of an individual. This is not restricted to physical confinement but includes any unjustified limitation of another's freedom of movement. If an ...
Coverage for direct or indirect property loss that can be analyzed under the following headings: Peril a particular peril may be included or excluded. For example, the Standard Fire Policy ...
Death benefit option in which a beneficiary of a life insurance policy receives the death benefit as a single sum payment instead of installments. ...
Legislation to eliminate most tax shelters and write-offs in exchange for lower rates for both corporation and individuals. It was intended to be revenue neutral; that is, to bring in the ...
Inability to perform one or more important daily business duties, or inability to perform the usual daily business duties for the time period usually required for the performance of such ...
Circumstances in life insurance in which, although a minimum rate is guaranteed, a policyowner may earn additional (excess) interest, depending on the company's investment return. ...
Trust in which a charity receives income from a donated asset for a specified number of years that it is held in that trust. After the specified period concludes, the principal is ...
Have a question or comment?
We're here to help.