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Little Rock Office
1111 S. Bowman, Ste B-4
Little Rock, AR 72211
(501) 224-6666
(888) 214-3149
FAX (501) 224-0477
Conway Office
269 Hwy 65 North
Conway, AR 72032
(501) 327-4666
(888) 563-5656
FAX (501) 327-4684
Rogers Office
2894 W. Walnut Ave. Ste A
(479) 633-0505
(877) 633_0505
FAX (479) 633-9595
Sherwood Office
8210 Hwy 107 (JFK)
Sherwood, AR 72120
(501) 392-0300
(866) 861-8368
FAX (501) 392-0302 |
Absolute
Assignment - The transfer of all ownership rights of a life insurance policy to another individual or entity. |
Accelerated Death Benefit -
This feature in some life insurance policies allows you to receive a portion of your death benefit while you're still
alive if you become terminally ill. The purpose is to help you pay medical and other expenses. |
Accidental Death Benefit -
This is a rider (or endorsement) that can be added to a life insurance policy that increases the death benefit if death
is due to an accident. |
Adjustable Life Insurance -
A type of life insurance that allows you to change your coverage in some way. You may be able to raise or lower the face amount,
increase or decrease the premium, and lengthen or shorten the protection period. |
Beneficiary -
The individual or other legal entity who will receive the death benefit proceeds of your life insurance policy upon your death.
The primary beneficiary is the first person in line to receive the proceeds. A contingent beneficiary is
an alternate beneficiary named in case the primary beneficiary is no longer living. The policy owner can change the beneficiary
designation if the person (entity) was not originally named as an irrevocable beneficiary. |
Broker -
An independent agent who represents the insurance buyer rather than the insurance company. |
Carrier -
A term used to designate the insurance company who underwrites (issues) the policy. |
Cash Surrender Value -
This is the amount of money you can receive from the insurance company if you surrender (cancel) your cash value life insurance
policy. There may be surrender charges and/or fees or policy debt deducted from the policy's actual cash value. |
Cash Value -
In Cash Value Life Insurance policies, this is the amount of money that accumulates in your policy. You can usually borrow
a portion of your cash value for any reason. The policy's death benefit will be reduced by the amount of any outstanding loan. |
Conditions -
This part of your policy explains rights and responsibilities of both you and the insurance company. |
Consideration -
Something of value given in exchange for a promise of performance. Your insurance premium is the consideration that makes your
insurance policy a legal document. |
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