Terms with Tag Life Insurance
- Death & Disability (D&D) — Acronym, Important, ➥ A life insurance policy rider.
- Death Benefit (DB) — Acronym, Very Important,
- A payment or series of payments made to the beneficiaries of a life insurance policy.
➥ An amount paid to a beneficiary in a life linsurance policy. - Death, Maturity, Surrender (DMS) — Acronym,
- Decreasing Term Life Insurance — Definition,
- A Term life insurance policy with benefits that decrease each year as the policyholder ages.
- Disease Management (DM) — Acronym, Important,
- The process of discussing and agreeing to treatments and care plans for individuals with long-term health care needs.
➥ Heath care decisions made to manage a disease. - Disease Management Program (DMP) — Acronym,
- Dread Disease Rider — Definition,
- Insurance that provides a benefit if the policyholder is diagnosed with an illness that is deemed serious or terminal.
- Estate Planning — Definition,
- The process of determining how assets will be dispersed after an individual's death, ideally in the most tax-efficient way possible.
- Family Income Rider — Definition,
- A recurring or lump sum life insurance benefit that matches the policyholder's income.
- Fellow of the Academy of Life Underwriting (FALU) — Acronym, United States and Canada,
- Fiduciary — Definition,
- An individual, company, or association that manages assets for another party. Fiduciaries include executors of wills and estates, trustees, receivers in bankruptcy, and those responsible for managing the finances of a minor.
- Flexible Premium Variable Life Insurance (FPVLI) — Acronym,
- Foreign Variable Universal Life Insurance (FVUL) — Acronym,
- Group Life Insurance — Definition,
- Life insurance offered to a large number of people belonging to an organization, usually as part of a benefit package.
- Guarantee Period — Definition,
- A time period where income payments from an annuity are guaranteed.
- Guaranteed Minimum Death Benefit (GMDB) — Acronym, Important,
- The minimum amount of money promised to be awarded to a beneficiary, provided all premiums have been paid.
- Home Office Specimen (HOS) — Acronym,
- Human Life Approach — Definition,
- A method of estimating what the probable lifetime financial impact a life insurance policyholder's death would have on his or her beneficiaries.
- Irrevocable Beneficiary — Definition,
- A life insurance or segregated fund beneficiary whose benefit cannot be revoked or modified in any way without his or her consent.
- Irrevocable Life Insurance Trust (ILIT) — Acronym,
- Joint and Survivor Annuity — Definition,
- An annuity with multiple annuitants (usually spouses) that makes payments as long as either of the annuitants are alive.
- Life Annuity — Definition,
- An annuity that will continue to make payments until the death of the annuitant.
- Life Insurance — Definition, Very Important,
- An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
➥ CanEquity offers life insurance. - Life Insurance Policy (LIP) — Acronym,
- Life Insurance Trust (LIT) — Acronym,
- A legal entity that is made the beneficiary of a life insurance policy, often arranged to evade taxation.
- Life Policy (LP) — Acronym, ➥ An insurance policy.
- Life Underwriters Association of Canada (LUAC) — Company, Canada,
- Living Benefits — Definition,
- The option for a life insurance policyholder to receive a portion of their death benefit in advance of their death.
- Lump Sum Death Benefit (LSDB) — Acronym,
- A one time payment awarded to a beneficiary in a life insurance policy.
- Maturity Guarantee — Definition,
- A guarantee that after a certain date a contract, such as a life insurance policy or annuity, will have a minimum dollar value.
2.
Death & Disability -
Decreasing Term Life Insurance
Decreasing Term Life Insurance
