Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
10 Cards in this Set
- Front
- Back
A promise in exchange for an action
|
unillateral contract
|
|
risk
|
uncertainty concerning financial loss
|
|
SPIA
|
Single Premium Immediate Annuity
|
|
SPDA
|
Single Premium Deferred Annuity
|
|
NAIC
|
National Association of Insurance Commissioners
|
|
1035 Exchange
|
allows you to convert an insurance option into an annuity
|
|
Revocable
|
term indicating the insured's right to change benificiaries in his plan
|
|
reinsurer
|
insures an insurer
|
|
modified life insurance
|
starts with lower payments but increases later ( good for young couple starting out)
|
|
free look period
|
10 days after any insurance plan is purchased in which you can get a full refund
|