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Life Settlement
Educational Information
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Life Settlement Glossary


Below is a list of terms, phrases and other important information related to the life insurance and life settlement industry. Please contact us directly if you have any further questions related to life settlements.

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1035 Policy Exchange
A
Absolute Assignment
Accelerated Death Benefits Rider (ADB)
Accredited Investor
Accumulation Value
Actuary
Age at Issue
AM Best Rating Services
Annual Renewable Term
Annuitant
Annuity
Application for Insurance
Assignee
Assignment
Attained Age
B
Beneficiary
Bid
BOLI
Broker-dealer
C
Caregiver
Carrier
Cash in Life Insurance Policy
Cash Surrender Value
Certificate of Insurance
Chronically Ill
COLI or Corporate Owned Life Insurance
Collateral Assignment
Comparable Market Analysis ®
Confidentiality
Contestability Period
Contestable Clause
Contingent Beneficiary
Conversion Privilege
Convertible Term Insurance
Cost Basis
Cost of Insurance (COI)
Covered Life
Crediting Amount
Crediting Rate
Current Assumption
Current Interest Rate
Custodian
D
Date of Issue
Death Benefit
Death Claim
Decreasing Term Policy
Department of Insurance
Dependent
Deterministic Pricing
Disability Waiver of Premium
Dividend
Duplicate Policy
E
Employer
Endowment Policy
Escrow
Escrow Agent
Evidence of Insurability
Excess Interest
Exclusions
Expense Charge
F
Face Value
Family History
Federal Employees Group Life Insurance (FEGLI)
Federal Regulations
Fiduciary
Financing Entity
FINRA
First to Die Policy
Flexible Premium Adjustable Life
Fraud
Funder
Funding Company
Funding Premium
G
Grace Period
Gross Return
Group Policy
Guaranteed Issue
Guaranteed Rate
H
HIPAA
I
Illustration
In Force
Increasing Term
Indebtedness
Indeterminate Premium
Institutional Investor
Insurability
Insurable Interest
Insurance Company
Insured
Insured Life
Insurer
Irrevocable Beneficiary
Irrevocable Beneficiary Rights Offer
IRS
Issue Date
J
Joint Age Calculation
Joint Survivor Life Insurance
K
Key Person Insurance
L
Lapse Rates
Legal Competency
Letter of Competency
Level Premium
Level Premium Period
Level Term Insurance
License
Life Expectancy
Life Insurance Agent
Life Insurance Application
Life Insurance Broker
Life Insurance Carrier
Life Insurance Company
Life Insurance Contract
Life Insurance Policy
Life Insurance Policy Lapse Notice
Life Insurance Policy Owner
Life Insurance Policyholder
Life Insurance Settlement Association
Life Settlement
Life Settlement Application
Life Settlement Broker
Life Settlement Contracts
Life Settlement Marketplace
Life Settlement Provider
Life Settlor
Living Benefits
Loan
LOC
M
Market Data
Market Value
Market Value Pricing ®
Maturity Date
Maturity Extension Rider
Maturity Premium
Medical Exam
Medical Information Bureau (now MIB Group, Inc)
Medical Records
Misstatement of Age
Modal Premium
Modified Endowment contracts (MEC)
Monthly Anniversary
Mortality Charge
Mortality Multiplier
Mortality Rating
N
NAIC
NASD (Now FINRA)
NCOIL
Net Amount of Insurance at Risk
Net Death Benefit
Non-Contestable Policy
Non-forfeiture Values
Notary Seal
O
Option A
Option B
Option C
Ordinary Life
Originator
Outlay
Owner
P
Paid-Up Policy
Participating Policy
Payor
Permanent Life Insurance
Policy Anniversary
Policy Audit
Policy Date
Policy Loan Amount
Policy Owner
Policy Provision
Policy Review
Policy Type
Policy Valuation
Policyholder
Pre-Market Analysis
Preferred Rate
Preferred Risk
Premium Mode
Premium Outlay
Premium Payments
Price-First
Pricing Analysis
Pricing Model
Primary Beneficiary
Probabilistic Modeling
Provision
Purchase Agreement
Purchase and Sale Agreement
Q
Qualified Institutional Buyer
R
Rate
Rated or Rate Class
Ratings
Reinstatement Provision
Related Provider Trust
Renewable Term
Replacement
Rescission Period - Life Settlement
Rescission Period - Newly Issued Life Insurance
Retained Death Benefit Life Settlements
Rider
Risk
Risk Factor
S
Sales Contract
SEC
Second-to-die (Survivorship) Life Insurance
Secondary Beneficiary
Secondary Guarantee
Secondary Markets
Security
Sell Your Life Insurance Policy for Cash
Seller
Senior Life Insurance Settlement
Settlement Option
SGLI
Special Purpose Entity
Split-Dollar Policy
SRO - Self Regulatory Organization
Standard Risk
State Regulations
Stated Amount
Stochastic Modeling
STOLI or Stranger Originated Life Insurance
Sub-Standard Risk
Suicide Provision or Clause
Surrender a Life Insurance Policy
Surrender Charge
Surrender Value
T
Term
Term Conversion
Term Life Insurance
Term Test
Terminally Ill
Tracking
U
Underwriter
Underwriting
Universal Life Insurance
V
Valuation
Valuation Date
Variable Interest Rate
Variable Universal Life Insurance
Verification of Coverage (or VOC)
VGLI
Viatical
Viatical & Life Settlement Association of America (VLSAA)
Viatical Life Settlement Company
Viatical Market Place
Viatical Settlement
Viaticate
Viator
W
Waiver of Premium Rider
Whole Life Insurance
Z
Zero Pay Illustration