Rated Policy
A policy issued with a higher premium to someone having a greater-than-average risk of loss. Reduced Paid-Up
A non-forfeiture option in which the cash surrender value is used to purchase paid-up insurance with no future premiums payable. The death benefit is lower than that provided if the premiums were continued. Reinstatement
The process to restore a policy that had previously lapsed due to nonpayment of premiums. Reinstatement requires the submission of evidence of insurability and unpaid premiums plus interest. Reinstatement Provision
A written provision in the policy that notes the requirements a policyowner must meet to reinstate a policy within a specified time frame after the policy has lapsed. Replacement
A transaction in which new insurance coverage is to be purchased and an existing policy or contract is lapsed, forfeited, surrendered, partially surrendered or otherwise amended as a result of the transaction. Revocable Beneficiary
A type of beneficiary designation that can be changed at the policyowner’s request without the current beneficiary’s approval or knowledge. Rollover
The tax-free transfer of accumulated assets from one qualified plan to another qualified plan within 60 days of the termination of the original plan.
Forms & FAQs for All Products
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Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (800) 369-2862. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members. CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America. The Representative may also be a credit union employee that accepts deposits on behalf of the financial institution.
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©1997-2009 CUNA Mutual Group.
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