What is a variable annuity life insurance policy?
What is a variable annuity life insurance policy?
A variable annuity is a contract between you and an insurance company, under which the insurer agrees to make periodic pay- ments to you, beginning either immediately or at some future date. You purchase a variable annuity contract by making either a single purchase payment or a series of purchase payments.
What is the difference between universal and variable life insurance?
Variable life has fixed premiums that you can predict for the entirety of the policy, while universal life insurance has flexible premiums that can be paid for with the cash value. Both also accumulate cash value that you can use while you are alive.
Does variable life insurance expire?
Variable life insurance is a permanent life insurance policy, meaning it lasts until the policyholder’s death, combined with a cash-value account invested in bonds or stocks.
What is the greatest risk in a variable life insurance policy?
The greatest risk in a variable life insurance policy is the risk of the investments. The insurance company doesn’t guarantee any rate of return and doesn’t offer protection for investment losses. Like any investment, the cash value component of a variable life insurance policy comes with risk. Nov 29, 2021
In what way is a Variable Life policy superior?
Greater potential return than whole life. Despite not having the guaranteed investment returns of other types of permanent insurance, variable life insurance does have a greater range of investment options, such as subaccounts similar to mutual funds, that have the potential to increase long-term returns. Feb 15, 2019
Are variable life insurance policies securities?
They come in various forms, including term life, whole life and universal life policies. There also are variations on these—variable life insurance and variable universal life insurance—which are considered securities and must be registered with the Securities and Exchange Commission (SEC).
What is the benefit of a variable life policy as compared to a universal life policy quizlet?
Terms in this set (5) -Variable life insurance offers fixed premiums, a flexible death benefit and the ability to earn a variable rate of return. The difference in these structures can help a potential policyholder to choose the right type of policy.
Which of these is an element of variable life policy?
Which of these is an element of a Variable Life policy? Variable Whole Life policies have a fixed, level premium. Who benefits in Investor-Originated Life Insurance (IOLI) when the insured dies? The policyowner (investor) benefits upon the death of the insured.
Is First Acceptance the same as Acceptance Insurance?
As part of its business, First Acceptance sells its policies under the brand names Acceptance Insurance (in the …
How long has Acceptance Insurance been in business?
Acceptance Insurance started at a single desk in Texas in 1969, with the idea that drivers with imperfect records deserve a chance, and that everyone deserves respect. That idea caught on – and 50 years later Acceptance serves nearly 200,000 people from over 350 offices in 17 states and online.
How do I cancel my insurance acceptance?
Contact your insurance provider: To cancel your existing insurance policy, you may call your insurer, contact an agent through the company’s mobile app, mail in a cancelation request or speak to an agent in person — depending on your carrier’s options. Sep 2, 2021
Who is the CEO of Acceptance Insurance?
Ken Russell Ken Russell serves as the CEO / President of Acceptance Insurance.
What is Acceptance Insurance NAIC number?
20010 The company is authorized to transact business within these lines of insurance. … NAIC #: 20010 Date Authorized in California: 1999-03-29 License Status: UNLIMITED-NORMAL Company Type: Property & Casualty State of Domicile: NEBRASKA 1 more row
What is insurance consideration?
Consideration. This is the premium or the future premiums that you have to pay to your insurance company. For insurers, consideration also refers to the money paid out to you should you file an insurance claim.
What does acceptance mean in insurance?
to agree to insure Accept — to agree to insure. An insurer accepts a risk when an underwriter or agent agrees to insure it, and the essential elements of the insurance contract are known and agreed to by the parties to it.
