Glossary for the Study Materials for the Texas Funeral Prearrangement Life Insurance Agent License: Key Words to Study

Glossary for the Study Materials for the Texas Funeral Prearrangement Life Insurance Agent License: Key Words to Study Accidental Death Benefit Rider -Answer-insured dies in an accident Accumulation Period -Answer-Time during which a pool of money is being held Advertising -Answer-Clear, Understandable, Not Misleading Alien Company -Answer-Other Countries Annual Statement -Answer-Annual Accounting Report Annuitant -Answer-Individual named in the annuity contract- receive the payments. Annuitize -Answer-Disperse Money Annuity -Answer-A contract Annuity Period -Answer-Distribution payments begin Assets -Answer-All things of value owned by the insurance company Automatic Pemium Loan -Answer-automatically be used to pay overdue policy premiums Backdating -Answer-pushed back so that the insured is at a younger age at start and pays a lower premium Benficiary -Answer-person who recieves the proceeds Cash Surrender -Answer-Cash Value Conservation -Answer-contact policy-holders to ensure policies do not lapse. (Phone, home visit, letter) Contingent Beneficiary -Answer-Second Who regulates the funeral? -Answer-Funeral Current Interest -Answer-3%-4% (determined by insurance company) Death Benefit -Answer-proceeds paid to the beneficiary (death) Defamation -Answer-False communication, reputation, derogatory Deferred Annuity -Answer-(FUTURE) will not begin dispursing the pool of money until a future date/ request of owner Dividends -Answer-Mutual Company