Glossary
a report that is sometimes produced as part of a policy Illustration that shows the Fees that would be paid…
Read Morea key document (which may be shown to a consumer on computer or in hard copy) that is used in…
Read Morea policy owner may borrow money from the Accumulated Cash Value of a Cash Value Policy. The interest rate on…
Read Morea charge that is deducted from the Cash Value of a policy if the policy owner chooses to Surrender a…
Read MoreA universal life policy in which the savings account earns interest at a specified percentage (e.g., 5%). The percentage may…
Read MoreA “universal life” policy is a permanent policy that does not have a required premium but instead has a “flexible…
Read MoreA “whole life” policy is a permanent policy that has a specified premium that, if paid, will keep the policy…
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