May 16, 2025 | Study Notes, Life & Health
Nonforfeiture Options: Extended Term, Reduced Paid-Up, Cash Assume you have had a whole life policy for awhile. You have made the premium payments and never touched the cash value so it’s been growing as it should. You get to a point in life where maintaining this...
May 14, 2025 | Study Notes, Life & Health
Limited Pay Life Limited Pay life, where you buy a WHOLE life policy, but only make payments for a certain period of time. Essentially you pay the premium off faster. For instance, a guy at 40 buys a Limited Pay Whole life policy. He wants permanent coverage, but he...
May 12, 2025 | Study Notes, Life & Health
Joint & Survivorship Life In an effort to save money, or to make things simple, people may purchase life insurance together. When we do this, we are buying joint life insurance policies. What the insurance company will do is take the average age of both people,...
May 9, 2025 | Study Notes, Life & Health
Co-insurance & Deductible Math for Medical Plans Matt had a doctor bill of 1000. He had a deductible of $500 and 80/20 co insurance. First step, remember what is what, that Matt has to pay the deductible first and then co-insurance kicks in. The first #, 80, is...
May 7, 2025 | Study Notes, Life & Health
Stop Loss “The higher the stop-loss, the lower the premium will be.” Remember stop loss is the point the loss stops for the consumer and the insurance company pays the bills from then on. Sometimes, when I take these tests in my head, I take them to a...
May 5, 2025 | Study Notes, Life & Health
Four Personal Uses For Life Insurance Survivor Protection: The most common one is making sure your family, the ones you leave behind if you die will be financially ok. A married couple can buy policies were their spouse is the beneficiary. If one dies, the spouse that...
