It sure can be confusing. You did your research on your life insurance options. You’re ready to meet with an expert representative who will guide you through the process, and suddenly they start using phrases you are not quite certain of. But they seem second nature to the rep (which makes you hesitant to ask what this all means). That’s why we decided to bring you the definitions of some commonly used terms, all in one place.
So download this handy glossary to refer to as you shop in case you can relate to any of these scenarios:
- If you’ve ever wondered what a waiver of premium is.
- You need a quick definition of term life insurance vs universal life insurance.
- You’re not quite sure what a Fraternal Benefit Society might be.
- You think you might have heard someone talk about Riders and Add-ons a while back.
- You’re too nervous to venture a guess at what Face Amount, Cost of Insurance or a Buy-sell agreement is.
This is no time for guesswork. It’s better to gather all the information you can, read up and don’t be shy if you still need clarification on any life insurance terms. Just ask! Afterall, our reps are here to instill you with the greatest confidence that you are making the right decision for a bright tomorrow for you and your family. This glossary is a great way to start.
Take the first step
We look forward to putting all those new words into good use at our next meeting. Let’s set something up soon.