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8 T E R M S E V E RY O N E S H O U L D K N O W
W H E N D E A L I N G W I T H L I F E I N S U R A N C E
B Y M A R C F I R E...
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P O L I C Y O W N E R I S T H E P E R S O N W H O B U Y S A N D C O N T R O L S T H E
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8 terms everyone should know when dealing with life insurance by marc firestone

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This is a presentation that breaks down the confusing terminology and jargon found when purchasing life insurance.

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8 terms everyone should know when dealing with life insurance by marc firestone

  1. 1. 8 T E R M S E V E RY O N E S H O U L D K N O W W H E N D E A L I N G W I T H L I F E I N S U R A N C E B Y M A R C F I R E S T O N E
  2. 2. When  deciding  on  the  appropriate  life  insurance,  buyers   often  6ind  the  situation  dif6icult.  Oftentimes  the  confusing   terminology  often  prevents  people  from  making  the  right   decision  or  even  a  decision  at  all  which  could  result  in   leaving  many  families  with  that  safety  net.  
  3. 3. To  help  you  cut  through  the  dif6icult   terminology,  here  are  eight  essential  terms  that   will  help  you  when  making  your  life  insurance   purchase.
  4. 4. P O L I C Y O W N E R I S T H E P E R S O N W H O B U Y S A N D C O N T R O L S T H E I N S U R A N C E P O L I C Y. T H E P O L I C Y O W N E R M AY O R M AY N O T B E T H E O N E W H O S E L I F E I S I N S U R E D . F U RT H E R M O R E , T H E P O L I C Y O W N E R H A S C E RTA I N R I G H T S . F O R I N S TA N C E , I F Y O U A R E T H E P O L I C Y H O L D E R F O R A L I F E I N S U R A N C E P O L I C Y, Y O U C A N C H A N G E T H E B E N E F I C I A RY O R T R A N S F E R O W N E R S H I P O F T H E P O L I C Y T O S O M E O N E E L S E . 1 . P O L I C Y H O L D E R
  5. 5. 2 . P R E M I U M N O , W E A R E N O T TA L K I N G A B O U T G A S H E R E . P R E M I U M , B Y D E F I N I T I O N , I S T H E A M O U N T O F M O N E Y Y O U PAY F O R T H E I N S U R A N C E . T H I S A M O U N T I S G E N E R A L LY Q U O T E D P E R M O N T H O R Y E A R , D E P E N D I N G O N T H E PA C K A G E .
  6. 6. 3 . B E N E F I C I A RY ! T H E B E N E F I C I A RY I S T H E P E R S O N W H O R E C E I V E S T H E L I F E I N S U R A N C E PAY O U T, B E N E F I T S , A N D A D VA N TA G E S . U S U A L LY F O R T Y P I C A L L I F E I N S U R A N C E P L A N S , Y O U C A N N A M E M O R E T H A N O N E B E N E F I C I A RY A N D D E S I G N AT E A S P E C I F I C P E R C E N TA G E T O E A C H PA RT Y. TA K E F O R E X A M P L E Y O U H AV E A FA M I LY O F F O U R . Y O U R W I F E C O U L D G E T 6 0 % W H I L E Y O U R T W O C H I L D R E N C A N G E T 2 0 % E A C H .
  7. 7. 4 . T E R M L I F E I N S U R A N C E T E R M L I F E I N S U R A N C E I S A P O L I C Y T H AT L A S T F O R A S P E C I F I C N U M B E R O F Y E A R S . D E P E N D I N G O N T H E PA C K A G E Y O U C A N H AV E A P O L I C Y F O R F I V E , T E N , O R T H I RT Y Y E A R S .
  8. 8. 5 . P E R M A N E N T L I F E I N S U R A N C E I N C O N T R A S T T O T E R M L I F E I N S U R A N C E , P E R M A N E N T L I F E I N S U R A N C E I S A L I F E I N S U R A N C E P L A N T H AT D O E S N O T E X P I R E A N D C O M B I N E S A D E AT H B E N E F I T W I T H A S AV I N G S P O RT I O N . T H I S S AV I N G P O RT I O N I S W H AT I S C A L L E D C A S H VA L U E I N W H I C H T H E P O L I C Y O W N E R C A N B O R R O W F U N D S O R W I T H D R AW C A S H VA L U E T O H E L P M E E T F U T U R E G O A L S .
  9. 9. 6 . C A S H VA L U E I F Y O U B U Y P E R M A N E N T L I F E I N S U R A N C E , Y O U A R E G I V E N T H E B E N E F I T O F B U I L D I N G A C A S H VA L U E S AV I N G S . PA RT O F Y O U R PAY M E N T G O E S I N T O A N A C C O U N T T H AT G R O W S I N VA L U E O V E R T I M E . I N A D D I T I O N , Y O U C A N TA K E A L O A N F R O M T H E C A S H VA L U E A N D U S E T H E M O N E Y F O R A N Y T H I N G Y O U L I K E S U C H A S PAY I N G F O R A C H I L D ’ S C O L L E G E E D U C AT I O N .
  10. 10. 7 . D E AT H B E N E F I T T H I S I S T H E A M O U N T PA I D T O A B E N E F I C I A RY U P O N T H E D E AT H O F A N I N S U R E D P E R S O N .
  11. 11. 8 . A C C E L E R AT E D D E AT H B E N E F I T T H I S P O L I C Y F E AT U R E A L L O W S Y O U T O R E C E I V E S O M E O F T H E L I F E I N S U R A N C E PAY O U T E A R LY I F Y O U A R E T E R M I N A L LY I L L .

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