Application, Delivery and Policy U/W Flashcards
1
Q
Universal Life
A
Flexible Premium
2
Q
Decreasing Life
A
Credit Life
3
Q
Annual Renewable Term
A
One year Term
4
Q
Whole Life
A
Permanent Life
5
Q
Variable Life
A
Securities License
6
Q
Fixed Annuity
A
Guaranteed Rate of Return
7
Q
Equity Indexed Annuities
A
Performance of an Index like S&P500
8
Q
Accumulation Period (Annuity)
A
Pay-In Period / Contribution
9
Q
Annuity Period
A
Pay-Out / Distribution
10
Q
Insurable Interest
A
Who can Insure who
11
Q
Free look period
A
10 day to check & verify issued policy
12
Q
Guaranteed Renewable
A
No Medicals needed at renewal
13
Q
Grace Period (individual policy)
A
30 Days after due date
14
Q
Grace Period (Group Life)
A
31 Days after due date
15
Q
Conditional Receipt
A
Covered, but not approved yet
