Glossary of Terms related to Life Insurance
- 1035 Exchange
- Accelerated Death Benefit Rider
- Accumulated Value
- Administrative Charge
- Administrative Expenses
- Age-Based Mortality Charges
- Annual Point-to-Point
- Annual Reset
- Automatic Premium Loan (APL)
- Base Policy
- Beneficiary
- Benefit Base
- Cap (for Indexed Policies)
- Cap (Interest Rate)
- Cap Rate
- Cash Account Value
- Cash Surrender Value
- Children’s Term Rider
- Chronic Illness Rider
- Claim
- Contestability Period
- Contract Owner
- Convertible Term
- Cost Basis
- Cost of Insurance
- Crediting Method
- Critical Illness Rider
- Death Benefit
- Death Benefit Options (Level vs. Increasing)
- Direct Recognition
- Disability Income Rider
- Dividends
- Face Amount
- Fixed Account
- Fixed Account Rate
- Fixed Interest Rate
- Flexible Premium
- Floor
- Floor Rate (for Indexed Policies)
- Forced Asset Allocation Model
- Free Look Period
- Free Withdrawal Provision
- Funding Corridor
- General Account
- Grace Period
- Guaranteed Cash Value
- Guaranteed Death Benefit
- Guaranteed Insurability Rider
- Guaranteed Interest Rate
- Guaranteed Rate of Return
- Illustrated Rate
- Illustration (Policy Illustration)
- Increasing Death Benefit
- Indexed Account
- Indexed Strategy
- Indexed Universal Life
- Inforce Illustration
- Insurable Interest
- Insured
- Interest Crediting Rate
- Interest Payments
- Investment Risk
- Investment Subaccounts
- Joint Annuitant
- Key Man Coverage / Key Person Coverage
- Lapse
- Lapse Protection
- Level Death Benefit
- Level Premiums
- Limited Pay Whole Life
- Linked Benefit Products
- Living Benefit Rider
- Loan Interest Rate
- Long Term Care (LTC)
- Long-Term Care Rider
- Modified Endowment Contract (MEC)
- Monthly Average Method
- Monthly Deduction
- Monthly Expense Charge (PER 1,000)
- Mortality and Expense Charges
- Mortality And Expense (M&E) Risks Charge
- Mortality Charges
- No-Lapse Guarantee
- Non-Direct Recognition
- Non-Forfeiture Options
- Non-Forfeiture Provision
- One-Year Term Insurance
- Overloan Protection Rider
- Paid-Up Additional Insurance (PUA)
- Participation Rate
- Penalty-Free Withdrawals
- Per 1,000 Charges
- Permanent Life Insurance
- Persistency
- Policy Fee
- Policy Illustration
- Policy Loan
- Policyowner
- Premium
- Premium Allocation
- Premium Bonus
- Premium Charge / Premium Load
- Premium Mode
- Premium Tax
- Primary Beneficiary
- Rate Class
- Rate of Return
- Reduced Paid-Up (RPU) Insurance
- Return of Premium Death Benefit
- Return of Premium Rider
- Return-Of-Premium (ROP) Option
- Riders
- Second-To-Die Insurance
- Separate Account
- Spousal Rider
- Stock Market Index
- Subaccount Allocation
- Surrender Charge
- Term Insurance Rider
- Unit Value
- Variable Universal Life
- Volatility Control Index
- Waiver of Monthly Deduction Rider
- Waiver of Premium Rider