It sure can be confusing. You did your research on your life insurance options. You’re ready to meet with a professional financial representative to guide you through the process. Suddenly you worry they might start using phrases you don’t understand but seem second nature to them – which makes you hesitant to ask what this all means! Rest easy. That’s why we decided to bring you the definitions of some commonly used terms, all in one place.
Download this handy glossary for reference if you can relate to any of these scenarios.
- You wonder 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! After all, our reps are here to instill you with confidence that you’re 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.