Related Products
Riders are modifications to the insurance policy added at the same time the policy is issued. These riders change the basic policy to provide some feature desired by the policy owner. A common rider is accidental death (see above). Another common rider is a premium waiver, which waives future premiums if the insured becomes disabled.
Joint life insurance is either a term or permanent policy insuring two or more persons with the proceeds payable on either the first or second death.
Survivorship life is a whole life policy insuring two lives with the proceeds payable on the second (later) death.
Single premium whole life is a policy with only one premium which is payable at the time the policy matures.
Modified whole life is a whole life policy featuring smaller premiums for a specified period of time, after which the premiums increase for the remainder of the policy.
Read more about this topic: Life Insurance
Famous quotes containing the words related and/or products:
“The custard is setting; meanwhile
I not only have my own history to worry about
But am forced to fret over insufficient details related to large
Unfinished concepts that can never bring themselves to the point
Of being, with or without my help, if any were forthcoming.”
—John Ashbery (b. 1927)
“All that is told of the sea has a fabulous sound to an inhabitant of the land, and all its products have a certain fabulous quality, as if they belonged to another planet, from seaweed to a sailor’s yarn, or a fish story. In this element the animal and vegetable kingdoms meet and are strangely mingled.”
—Henry David Thoreau (1817–1862)