Absolute Assignment
The transfer of all incidents of ownership of a policy to a separate entity. The Assignee becomes the new owner. Accidental Death Benefit (ADB)
A rider or supplemental benefit that provides an additional death benefit if death of the insured is by accidental means. The amount of additional death benefit provided is generally equal to the face amount of the policy to which it is attached. Accumulated Value
Generally, a life insurance policy’s accumulated value is the cash value plus any dividend value (including interest). For an annuity, the accumulated cash value is generally the amount of contributions plus any interest earned less withdrawals. Annuitant
The person (or persons) whose life (or lives) determines the income payment benefits payable under a contract and whose death determines the death benefit. Annuitization
The process of changing an annuity policy from an investment fund to a series of periodic income payments. Annuity
A contract sold by a life insurance company in which an insured makes contributions into a fund that can then be withdrawn in a lump sum or a series of future payments. Assignee
The person receiving certain rights to a policy under an absolute or collateral assignment. Automatic Premium Loan (APL) Provision
A life insurance provision that allows an unpaid premium to be paid in the form of a loan against the policy’s cash value at the end of the payment grace period.
Forms & FAQs for All Products
This section contains PDF files which require Adobe Reader 5.0 or higher. If you do
not have Adobe Reader 5.0 or higher, click on the link below. For more help with Adobe Acrobat Reader, click here.
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.
|
|
|
©1997-2012 CUNA Mutual Group.
|
|
