Life Insurance Colorado | 200 Questions and Answers with complete

accelerated benefits - Riders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses. accidental death benefits - A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy description of accidental death. accidental death insurance - An insurance policy that provides payment if the insured's death is the result of an accident. Accumulation Period - The time before an annuitant's retirement during which the annuitant is making payments or investments in an annuity. actual cash value ACV - The required amount to pay damages or for property loss, which is calculated based on the property's current replacement value minus depreciation. Adhesion - A contract offered on a take-it-or-leave-it basis by an insurer, in which the insured's only option is to either accept or reject the contract. Any ambiguities in the contract will be settled in favor of the insured. Adjustable Life - Life insurance which permits changes in the face amount, premium amount, period of protection, and the duration of the premium payment period. Adjuster - A representative of an insurance company who investigates and acts on the behalf of the company to obtain agreements for the amount of the insurance claim. administrator - an individual appointed by a court as a fiduciary to settle the financial affairs an estate of a deceased person Admitted (authorized) insurer - An insurance company authorized and licensed to transact business in a particular se selection - the tendency of risks with higher probability of loss to purchase and maintain Insurance more often than the risk Who present lower probability