Texas Funeral Prearrangement Life Insurance Agent License 2024

Texas Funeral Prearrangement Life Insurance Agent License 2024 Accidental Death Benefit Rider -Answer-Pays a certain factor of the face amount of the policy if the insured dies in an accident. Accumulation Period -Answer-Time during which a pool of money is being held earning interest in an annuity. Advertising -Answer-Must be clear, understandable, and not misleading. Alien Company -Answer-Insurance companies incorporated in other countries but licensed to do business in Texas. Annual Statement -Answer-Company annual accounting report. Annuitant -Answer-Individual named in the annuity contract that will receive the payments. Annuitize -Answer-Periodically disperse money from the annuity. Annuity -Answer-A contract between an individual and a life insurance company to systematically disperse a pool of money. Annuity Period -Answer-When distribution payments begin on an annuity. Assets -Answer-All things of value owned by the insurance company, including cash, data processing equipment, and the insurance companies investments. Automatic Premium Loan -Answer-A provision in the policy that provides that the cash value of the policy can automatically be used to pay overdue policy premiums. Backdating -Answer-Process by which the effective date of the policy is pushed back so that the insured is at a younger age at start and pays a lower premium. Beneficiary -Answer-Person who receives the proceeds. Cash Surrender -Answer-To surrender the policy for its guaranteed cash value. Conservation -Answer-Efforts made by insurance agents and companies to contact policyholders to ensure policies do not lapse. Contingent Beneficiary -Answer-Second beneficiary to receive proceeds, but only if primary beneficiary dies before the insured.