October 24, 2006
Lump Sum
The default payment option for a death benefit in the event that one is not specified.
Filed under Money Glossary by Tracy Phaup
October 13, 2006
Life Income Joint and Survivor
Guarantees income for two or more recipients for the duration of their lives.
Filed under Money Glossary by Tracy Phaup
October 3, 2006
Section 1035 Policy Change
The section of the IRS tax code that allows an owner of a life insurance policy or annuity to to ‘exchange or replace their current contract with another contract without creating adverse tax consequences’.
Filed under Money Glossary by Tracy Phaup
