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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 |
Optional Benefit -
This is a rider (endorsement) you can add to your policy for an additional premium that adds something special like Accidental
Death Coverage or Waiver of Premium. |
Ordinary Life Insurance -
This term refers to Whole Life Insurance or Straight Life Insurance. It features a fixed level premium, fixed death benefit and
a fixed rate of cash accumulation. |
Paid-Up Additions -
This is a feature of some cash value life insurance policies. The underwriting insurance company pays dividends to policyholders
who have the dividends applied to the insurance policy. The result is additional insurance coverage that is paid for
by the dividend. |
Paid-Up Insurance -
Simply stated, this is a life insurance policy that requires no further premium payments. |
Participating Insurance -
This type of policy, offered by some companies, allows policyholders to share in dividends paid by the insurance company. |
Payor Benefit Clause -
This is an optional provision usually offered on life insurance for children. If the person paying the premiums dies before
the child's 21st birthday, premiums are waived until the child reaches majority age and begins making payments. |
Permanent Life Insurance -
This simply refers to a life insurance policy that remains in force during your entire life. It refers to Cash Value
Life Insurance such as Universal Life or Whole Life. |
Per Stirpes -
This refers to how insurance proceeds are paid to beneficiaries. For instance, let's say you named two children to share equally,
per stirpes. If one of the children died before you, that child's share of your life insurance proceeds would be distributed
to that child's children, not to your surviving child. |
Policy Date -
The date your life insurance coverage goes into effect. |
Policy Fee -
This fee to cover the costs of issuing a life insurance policy is included in the premium. Variable Life Insurance Policies
have on-going administrative costs for which periodic fees are charged separately. |
Policyholder -
This refers to the person who owns the insurance policy. |
Preferred Risk -
This refers to a person whose lifestyle: health, occupation, personal habits, hobbies, family history, etc. indicate the
person should live a long time. Smokers and race car drivers are not preferred risks. |
Premium -
The periodic payment made to the insurance company to keep your policy in force. |
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