Author: bryankashflow

Cash Value – is the savings element that builds up in permanent insurance plans Cash Surrender Value – the sum of money an insurance company pays to a policyholder or an annuity contract owner if their…

Revocable primary beneficiary vs. Irrevocable primary beneficiary vs. Contingent In general, beneficiaries can only receive the policy proceeds if he is alive at the time of the insured’s death. The irrevocable primary…

“Substandard rate” – refers to premiums charged to persons who are considered higher-than-average risk categories or applicants with moderate physical impairments. Increased rates. Applicants with sub-standard risks may be insured at increased…

Modified Life Policy is where the initial premium rate applies to the first 5 years of the policy and a higher premium rate applies to the remainder of the premium-payment period. “Joint…

What is Traditional Life Insurance? Policyholders do not have investment options but may savings or guaranteed cash components Premiums, cash values and death benefits are pre-determined Implicit charges The reason why it…

Life insurance applications usually carry large amount of information relating to the insurability of the applicant such as employment, medical condition, and family history. Why do insurance company need to appraise the…