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(877) 254-4429
No insurance resource would be complete without a helpful menu of terms and concepts. This information-rich list will help you make sense of the solutions you are considering.
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The termination of an insurance policy due to non-payment of premium amount by due date.
Life insurance offers protection from financial loss resulting from death, and can be used to protect both personal and business interests. It is a contract between a policy owner and an insurance company in which the insurer agrees to pay a sum of money to a beneficiary(ies) at the insured's death, and the policy owner agrees to pay premiums at regular intervals or in a lump sum.
Life insurance policies are often used as gifting strategies for individuals. There are generally three types: gift of policy, gift of premiums, gift of insurance proceeds.
A trust created with property transferred during lifetime. With a living trust: the grantor can terminate the trust at will and regain ownership of the property, or he/she can give up ownership and control permanently. There are two types of living trusts: Revocable and Irrevocable.
Low-load insurance does not have the typical agent commissions, allowing for lower expenses for marketing, sales, and administration, and immediate cash values. When LLIS began in 1998, we offered just low-load life insurance and annuity policies that had lower expenses than traditional commission policies and no surrender charges. Through the years, financial advisors asked us to expand our list of insurance solutions to give their clients the same quality customer service for all their insurance needs (including traditional disability, long term care, and term life insurances). We’re now a one-stop shop for most types of insurance (excluding property and casualty, and health). Click here to learn more about low-load insurance solutions.