{"id":392,"date":"2021-09-07T22:12:00","date_gmt":"2021-09-07T22:12:00","guid":{"rendered":"https:\/\/stage.startertemplatecloud.com\/g15\/?page_id=392"},"modified":"2025-05-14T00:16:58","modified_gmt":"2025-05-14T00:16:58","slug":"glosario-iul","status":"publish","type":"page","link":"https:\/\/indexeduniversallife.us\/es\/glosario-iul\/","title":{"rendered":"Glosario de IUL"},"content":{"rendered":"<style>.kb-row-layout-id392_cb943f-86 > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id392_cb943f-86 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id392_cb943f-86 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);max-width:600px;margin-left:auto;margin-right:auto;padding-top:150px;padding-right:0px;padding-bottom:120px;padding-left:0px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id392_cb943f-86 > .kt-row-layout-overlay{opacity:0.70;background-image:url('https:\/\/indexeduniversallife.us\/wp-content\/uploads\/2021\/04\/bg-0.png');background-size:cover;background-position:center center;background-attachment:fixed;background-repeat:no-repeat;}@media all and (max-width: 1024px), only screen and (min-device-width: 1024px) and (max-device-width: 1366px) and (-webkit-min-device-pixel-ratio: 2) and (hover: none){.kb-row-layout-id392_cb943f-86 > .kt-row-layout-overlay{background-attachment:scroll;}}@media all and (max-width: 1024px){.kb-row-layout-id392_cb943f-86 > .kt-row-column-wrap{padding-top:140px;padding-right:0px;padding-bottom:80px;padding-left:0px;grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id392_cb943f-86 > .kt-row-column-wrap{padding-top:120px;padding-right:20px;padding-bottom:50px;padding-left:20px;grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id392_cb943f-86 alignnone has-theme-palette8-background-color kt-row-has-bg wp-block-kadence-rowlayout\"><div class=\"kt-row-layout-overlay kt-row-overlay-normal\"><\/div><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column392_9b1604-f5 > .kt-inside-inner-col{padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px;}.kadence-column392_9b1604-f5 > .kt-inside-inner-col,.kadence-column392_9b1604-f5 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column392_9b1604-f5 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column392_9b1604-f5 > .kt-inside-inner-col{flex-direction:column;}.kadence-column392_9b1604-f5 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column392_9b1604-f5 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column392_9b1604-f5{position:relative;}@media all and (max-width: 1024px){.kadence-column392_9b1604-f5 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column392_9b1604-f5 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"inner-column-1 wp-block-kadence-column kadence-column392_9b1604-f5\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading392_8d93bc-85, .wp-block-kadence-advancedheading.kt-adv-heading392_8d93bc-85[data-kb-block=\"kb-adv-heading392_8d93bc-85\"]{margin-bottom:22.5px;text-align:center;line-height:1em;font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading392_8d93bc-85 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading392_8d93bc-85[data-kb-block=\"kb-adv-heading392_8d93bc-85\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading392_8d93bc-85 img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading392_8d93bc-85[data-kb-block=\"kb-adv-heading392_8d93bc-85\"] img.kb-inline-image{width:150px;vertical-align:baseline;}@media all and (max-width: 1024px){.wp-block-kadence-advancedheading.kt-adv-heading392_8d93bc-85, .wp-block-kadence-advancedheading.kt-adv-heading392_8d93bc-85[data-kb-block=\"kb-adv-heading392_8d93bc-85\"]{margin-bottom:17.5px;}}<\/style>\n<h1 class=\"kt-adv-heading392_8d93bc-85 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading392_8d93bc-85\">IUL Glossary<\/h1>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading392_28ceb9-11, .wp-block-kadence-advancedheading.kt-adv-heading392_28ceb9-11[data-kb-block=\"kb-adv-heading392_28ceb9-11\"]{text-align:center;font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading392_28ceb9-11 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading392_28ceb9-11[data-kb-block=\"kb-adv-heading392_28ceb9-11\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading392_28ceb9-11 img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading392_28ceb9-11[data-kb-block=\"kb-adv-heading392_28ceb9-11\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<p class=\"kt-adv-heading392_28ceb9-11 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading392_28ceb9-11\">Feel free to educate yourself and browse our glossary of IUL related terms, concepts, and definitions! <\/p>\n<\/div><\/div>\n\n<\/div><\/div>\n\n<style>.kb-row-layout-id392_0b5c00-ad > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id392_0b5c00-ad > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id392_0b5c00-ad > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);max-width:var( --global-content-width, 1290px );padding-left:var(--global-content-edge-padding);padding-right:var(--global-content-edge-padding);padding-top:90px;padding-right:0px;padding-bottom:90px;padding-left:0px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id392_0b5c00-ad > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id392_0b5c00-ad > .kt-row-column-wrap{padding-top:90px;padding-right:50px;padding-bottom:80px;padding-left:50px;grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id392_0b5c00-ad > .kt-row-column-wrap{padding-top:70px;padding-right:20px;padding-bottom:60px;padding-left:20px;grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id392_0b5c00-ad alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top kb-theme-content-width\">\n<style>.kadence-column392_e71d18-45 > .kt-inside-inner-col{padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.kadence-column392_e71d18-45 > .kt-inside-inner-col,.kadence-column392_e71d18-45 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column392_e71d18-45 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column392_e71d18-45 > .kt-inside-inner-col{flex-direction:column;}.kadence-column392_e71d18-45 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column392_e71d18-45 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column392_e71d18-45{position:relative;}@media all and (max-width: 1024px){.kadence-column392_e71d18-45 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column392_e71d18-45 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"inner-column-1 wp-block-kadence-column kadence-column392_e71d18-45\"><div class=\"kt-inside-inner-col\"><style>.kb-row-layout-id392_34d2be-08 > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id392_34d2be-08 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id392_34d2be-08 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);max-width:600px;margin-left:auto;margin-right:auto;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id392_34d2be-08 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id392_34d2be-08 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id392_34d2be-08 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id392_34d2be-08 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column392_578361-ca > .kt-inside-inner-col,.kadence-column392_578361-ca > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column392_578361-ca > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column392_578361-ca > .kt-inside-inner-col{flex-direction:column;}.kadence-column392_578361-ca > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column392_578361-ca > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column392_578361-ca{position:relative;}@media all and (max-width: 1024px){.kadence-column392_578361-ca > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column392_578361-ca > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column392_578361-ca\"><div class=\"kt-inside-inner-col\">\n<p class=\"\"><strong>Click Ctrl+F ( PC ) Cmnd+F ( Mac ) To search the Glossary<\/strong><\/p>\n<\/div><\/div>\n\n<\/div><\/div>\n\n<style>.kb-row-layout-id392_eaf2e4-c5 > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id392_eaf2e4-c5 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id392_eaf2e4-c5 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-none, 0rem );row-gap:var(--global-kb-gap-none, 0rem );max-width:var( --global-content-width, 1290px );padding-left:var(--global-content-edge-padding);padding-right:var(--global-content-edge-padding);padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;grid-template-columns:repeat(2, minmax(0, 1fr));}.kb-row-layout-id392_eaf2e4-c5 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id392_eaf2e4-c5 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id392_eaf2e4-c5 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id392_eaf2e4-c5 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-2-columns kt-row-layout-equal kt-tab-layout-row kt-mobile-layout-row kt-row-valign-top kb-theme-content-width\">\n<style>.kadence-column392_f5d02f-9e > .kt-inside-inner-col{padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px;}.kadence-column392_f5d02f-9e > .kt-inside-inner-col,.kadence-column392_f5d02f-9e > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column392_f5d02f-9e > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column392_f5d02f-9e > .kt-inside-inner-col{flex-direction:column;}.kadence-column392_f5d02f-9e > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column392_f5d02f-9e > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column392_f5d02f-9e{position:relative;}.kadence-column392_f5d02f-9e, .kt-inside-inner-col > .kadence-column392_f5d02f-9e:not(.specificity){margin-top:0px;margin-right:20px;margin-bottom:0px;margin-left:0px;}@media all and (max-width: 1024px){.kadence-column392_f5d02f-9e > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 1024px){.kadence-column392_f5d02f-9e, .kt-inside-inner-col > .kadence-column392_f5d02f-9e:not(.specificity){margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;}}@media all and (max-width: 767px){.kadence-column392_f5d02f-9e > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"inner-column-1 wp-block-kadence-column kadence-column392_f5d02f-9e\"><div class=\"kt-inside-inner-col\"><style>.kt-accordion-id392_11f3a8-69 .kt-accordion-inner-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:20px;}.kt-accordion-id392_11f3a8-69 .kt-accordion-panel-inner{border-top:0px solid transparent;border-right:0px solid transparent;border-bottom:0px solid transparent;border-left:0px solid transparent;background:var(--global-palette9, #ffffff);padding-top:30px;padding-right:30px;padding-bottom:40px;padding-left:30px;}.kt-accordion-id392_11f3a8-69 > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;background:var(--global-palette8, #F7FAFC);font-size:1.1em;line-height:1.4em;font-weight:bold;text-transform:none;color:var(--global-palette4, #2D3748);padding-top:25px;padding-right:30px;padding-bottom:25px;padding-left:30px;}.kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle )  > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap .kt-blocks-accordion-icon-trigger:after, .kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle )  > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap .kt-blocks-accordion-icon-trigger:before{background:var(--global-palette4, #2D3748);}.kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-blocks-accordion-icon-trigger{background:var(--global-palette4, #2D3748);}.kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-blocks-accordion-icon-trigger:after, .kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-blocks-accordion-icon-trigger:before{background:var(--global-palette8, #F7FAFC);}.kt-accordion-id392_11f3a8-69 > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header:hover, \n\t\t\t\tbody:not(.hide-focus-outline) .kt-accordion-id392_11f3a8-69 .kt-blocks-accordion-header:focus-visible{color:var(--global-palette4, #2D3748);background:var(--global-palette8, #F7FAFC);}.kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle ) .kt-accordion-header-wrap .kt-blocks-accordion-header:hover .kt-blocks-accordion-icon-trigger:after, .kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle ) .kt-accordion-header-wrap .kt-blocks-accordion-header:hover .kt-blocks-accordion-icon-trigger:before, body:not(.hide-focus-outline) .kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle ) .kt-blocks-accordion--visible .kt-blocks-accordion-icon-trigger:after, body:not(.hide-focus-outline) .kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle ) .kt-blocks-accordion-header:focus-visible .kt-blocks-accordion-icon-trigger:before{background:var(--global-palette4, #2D3748);}.kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-accordion-header-wrap .kt-blocks-accordion-header:hover .kt-blocks-accordion-icon-trigger, body:not(.hide-focus-outline) .kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-accordion-header-wrap .kt-blocks-accordion-header:focus-visible .kt-blocks-accordion-icon-trigger{background:var(--global-palette4, #2D3748);}.kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-accordion-header-wrap .kt-blocks-accordion-header:hover .kt-blocks-accordion-icon-trigger:after, .kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-accordion-header-wrap .kt-blocks-accordion-header:hover .kt-blocks-accordion-icon-trigger:before, body:not(.hide-focus-outline) .kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-accordion-header-wrap .kt-blocks-accordion-header:focus-visible .kt-blocks-accordion-icon-trigger:after, body:not(.hide-focus-outline) .kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-accordion-header-wrap .kt-blocks-accordion-header:focus-visible .kt-blocks-accordion-icon-trigger:before{background:var(--global-palette8, #F7FAFC);}.kt-accordion-id392_11f3a8-69 .kt-accordion-header-wrap .kt-blocks-accordion-header:focus-visible,\n\t\t\t\t.kt-accordion-id392_11f3a8-69 > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header.kt-accordion-panel-active{color:var(--global-palette1, #3182CE);background:var(--global-palette8, #F7FAFC);border-top-color:var(--global-palette9, #ffffff);border-top-style:solid;border-right-color:var(--global-palette9, #ffffff);border-right-style:solid;border-bottom-color:var(--global-palette9, #ffffff);border-bottom-style:solid;border-left-color:var(--global-palette9, #ffffff);border-left-style:solid;}.kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle )  > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header.kt-accordion-panel-active .kt-blocks-accordion-icon-trigger:after, .kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle )  > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header.kt-accordion-panel-active .kt-blocks-accordion-icon-trigger:before{background:var(--global-palette1, #3182CE);}.kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-blocks-accordion-header.kt-accordion-panel-active .kt-blocks-accordion-icon-trigger{background:var(--global-palette1, #3182CE);}.kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-blocks-accordion-header.kt-accordion-panel-active .kt-blocks-accordion-icon-trigger:after, .kt-accordion-id392_11f3a8-69:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-blocks-accordion-header.kt-accordion-panel-active .kt-blocks-accordion-icon-trigger:before{background:var(--global-palette8, #F7FAFC);}@media all and (max-width: 1024px){.kt-accordion-id392_11f3a8-69 .kt-accordion-panel-inner{border-top:0px solid transparent;border-right:0px solid transparent;border-bottom:0px solid transparent;border-left:0px solid transparent;}}@media all and (max-width: 1024px){.kt-accordion-id392_11f3a8-69 .kt-accordion-header-wrap .kt-blocks-accordion-header:focus-visible,\n\t\t\t\t.kt-accordion-id392_11f3a8-69 > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header.kt-accordion-panel-active{border-top-color:var(--global-palette9, #ffffff);border-top-style:solid;border-right-color:var(--global-palette9, #ffffff);border-right-style:solid;border-bottom-color:var(--global-palette9, #ffffff);border-bottom-style:solid;border-left-color:var(--global-palette9, #ffffff);border-left-style:solid;}}@media all and (max-width: 767px){.kt-accordion-id392_11f3a8-69 .kt-accordion-inner-wrap{display:block;}.kt-accordion-id392_11f3a8-69 .kt-accordion-inner-wrap .kt-accordion-pane:not(:first-child){margin-top:20px;}.kt-accordion-id392_11f3a8-69 .kt-accordion-panel-inner{border-top:0px solid transparent;border-right:0px solid transparent;border-bottom:0px solid transparent;border-left:0px solid transparent;}.kt-accordion-id392_11f3a8-69 > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header{font-size:0.9em;}.kt-accordion-id392_11f3a8-69 .kt-accordion-header-wrap .kt-blocks-accordion-header:focus-visible,\n\t\t\t\t.kt-accordion-id392_11f3a8-69 > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header.kt-accordion-panel-active{border-top-color:var(--global-palette9, #ffffff);border-top-style:solid;border-right-color:var(--global-palette9, #ffffff);border-right-style:solid;border-bottom-color:var(--global-palette9, #ffffff);border-bottom-style:solid;border-left-color:var(--global-palette9, #ffffff);border-left-style:solid;}}<\/style>\n<div class=\"wp-block-kadence-accordion alignnone\"><div class=\"kt-accordion-wrap kt-accordion-id392_11f3a8-69 kt-accordion-has-107-panes kt-active-pane-3 kt-accordion-block kt-pane-header-alignment-left kt-accodion-icon-style-arrow kt-accodion-icon-side-right\" style=\"max-width:none\"><div class=\"kt-accordion-inner-wrap\" data-allow-multiple-open=\"true\" data-start-open=\"none\">\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-1 kt-pane392_c500ad-f1\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">1035 Exchange<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">1035 Exchange is a method of swapping an existing life insurance or annuity policy for a new policy with a different firm that is tax-free.This process is frequently used when it is in the policyholder\u2019s best interest to switch to a more advantageous contract with better rates or features than the one they presently have (1035 refers to the tax code number).<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-2 kt-pane392_d1e528-54\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">5-Year Constant Maturity Treasury Rate<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">5-Year Constant Maturity Treasury Rate is an index by the Federal Reserve Board computed based on the average yield of various Treasury securities, typically adjusted to five-year maturity.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-3 kt-pane392_45cab9-39\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Account Value<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Account Value is the annuity\u2019s gross value before any loans, premium taxes, Market Value Adjustments, or surrender charges.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-4 kt-pane392_3afdfa-30\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Annual Step-Up<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Annual Step-Up is a popular feature on optional Guaranteed Lifetime Withdrawal Benefit riders. It raises the Benefit Base to the greater between the Benefit Base and the Account Value each year.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-5 kt-pane392_b6eb38-8f\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Annuitant<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Annuitant is the person or entity who receives an annuity\u2019s benefits.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-6 kt-pane392_d54dd9-b3\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Annuitize<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Annuitize is a term that describes converting an annuity contract from a cash accumulation option to a periodic distribution of funds.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-7 kt-pane392_610e37-da\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Annuity<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">An annuity is a contract in which a person agrees to pay premiums to an insurance company in exchange for a continuous stream of income payments from the issuer, either now or at a later date.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-8 kt-pane392_480dd2-02\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Automatic Premium Loan (APL)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Automatic premium loan (APL) is a sort of Non-Forfeiture Option available on cash value life insurance plans that uses the policy\u2019s cash value at the time of lapse to pay for the premium due. Despite an APL, loan interest will accrue.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-9 kt-pane392_238eda-fe\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Barclays Capital Aggregate Bond Index<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Barclays Capital Aggregate Bond Index, originally known as the \u201cLehman Aggregate Bond Index,\u201d is a broad-based index maintained by Barclays Capital representing investment-grade bonds traded in the United States.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-10 kt-pane392_558fb1-46\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Benefiary<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">When the contract owner or annuitant dies, the beneficiary is the person or legal entity who receives the annuity Death Benefit.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-11 kt-pane392_04c7f3-d0\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Benefit Base Bonus<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Benefit base bonus is a feature that applies a premium bonus to the Benefit Base of the Guaranteed Lifetime Withdrawal Benefit rider. This bonus is not accessible in the event of a cash surrender; it just raises the \u201cshadow fund\u201d value, which is used to compute Guaranteed Withdrawal Payments.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-12 kt-pane392_60bc13-50\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Cap Rate<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The cap rate is the maximum interest rate used in the crediting computation on an Indexed Annuity. A Participation Rate or a Spread Rate may also be used in indexed crediting mechanisms.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-13 kt-pane392_caf93c-71\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Cash Accumulation<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Cash accumulation is a product objective utilized in pricing cash value life insurance plans when the primary goal is to accumulate cash values.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-14 kt-pane392_92dcc0-85\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Certificate Of Deposit(CD)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A certificate of deposit (CD) is a receipt given by a bank for a cash deposit at a predetermined interest rate for a specified time. The bank pays the depositor the principal plus all accrued interest when the account matures.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-15 kt-pane392_f4ccb0-7a\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Compound Interest<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Compound interest is an interest crediting whereby in addition to the interest, interest is credited on the principal payment.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-16 kt-pane392_6fd563-64\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Consumer Price Index \u2013 URBAN (CPI-U)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Consumer Price Index-Urban (CPI-U) is the government\u2019s approach for estimating the purchasing habits of roughly 80% of the non-institutional population in the United States.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-17 kt-pane392_70dd2a-bf\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Crediting Method<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">On an Indexed Annuity, the Crediting Method is a premium allocation option that specifies the method for crediting interest on the annuity contract.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-18 kt-pane392_d2f8fd-3e\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Deferred Annuity<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A deferred annuity is an insurance contract in which at least a year passes between the payment of the lump amount or series of premiums and the transition of the annuity into a stream of income through annuitization. Fixed, variable, and Indexed deferred annuities can be structured this way.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-19 kt-pane392_9c1051-a3\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Dividends<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Dividends are a non-guaranteed component of an insurance policy that is considered a return of premiums paid. A dividend on a life insurance contract is the policy owner\u2019s share of the insurance company\u2019s divisible surplus instead of dividends obtained through stock ownership.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-20 kt-pane392_79d080-8c\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Dow Jones World-EX. U.S. Index<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Dow Jones World-EX. U.S. Index is a stock index that covers 95 percent of European market capitalization at a regional level, 95 percent of all other developed markets at a country level, and 95 percent of emerging markets as a whole.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-21 kt-pane392_026c38-2f\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Enhanced Death Benefit<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The enhanced death benefit is a annuity contract feature that offers an annuity Death Benefit that is more than the contract\u2019s entire Account Value.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-22 kt-pane392_2e9f91-b9\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Exclusion Ratio<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">In the case of payments from an immediate annuity or annuitization, a portion of each payment received by the Annuitant is considered a return of principal, which is not taxed. The remainder of the payments comprises the taxable interest earnings. The Exclusion Ratio determines each payment\u2019s taxable and nontaxable portions.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-23 kt-pane392_75a49d-cd\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Expenses<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Expenses are charges added to a Universal Life policy by an insurance company to cover the costs of administering the policy.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-24 kt-pane392_1fe772-9b\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Extended Term Insurance(ETI)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Extended Term Insurance (ETI) is a sort of Non-Forfeiture Option available on cash value life insurance products that leverages the policy\u2019s cash value at the time of lapse to obtain term insurance with the same face amount for as long as possible.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-25 kt-pane392_4e08b2-64\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Fifo To Lifo<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The tax treatment of annuity payouts changed from first-in, first-out (\u201cFIFO\u201d), which meant your principal was distributed first, followed by interest, to last-in, first-out (\u201cLIFO\u201d), which means interest is distributed first.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-26 kt-pane392_1f21d3-ea\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Final Expense<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Final expense is a product objective used in pricing cash value life insurance plans whose primary focus is to provide insurance to cover final expenses such as funeral fees, burial occasions, etc.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-27 kt-pane392_e81a44-27\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Fixed Account Rate<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Fixed account rate is the insurance company\u2019s stated interest rate for an optional crediting method on a Fixed, variable, or Indexed Annuity. This method functions similarly to a Fixed Annuity.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-28 kt-pane392_9d52d8-96\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Fixed Loan Interest<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Fixed loan interest is a policy loan interest in which the interest rate does not fluctuate throughout the loan period and is a fixed amount that the insurance company declares.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-29 kt-pane392_972586-8a\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Floor<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The floor is the annual minimum amount of interest credited to an annuity.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-30 kt-pane392_2c3fdf-0a\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Free Look Period<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Free Look Period is an annuity contract feature that states that the contract owner has around 10 to 20 days after purchase to study the annuity contract and return it to the insurer for a full refund. The free look period differs depending on the State.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-31 kt-pane392_a75ba7-c6\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">FTSE 100<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Financial Times-Stock Exchange 100 Share Index (FTSE 100) is a market-weighted index of the top 100 firms trading on the London Stock Exchange in the United Kingdom.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-32 kt-pane392_573e45-59\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Gold Commodity<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The London Gold Market Fixing Limited, which includes Scotia Mocatta, Barclays Capital, Deutsche Bank, HSBC Investment Banking Group, and Societe Generale,publishes the GOLD COMMODITY index, which offers gold rates to its members.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-33 kt-pane392_504d62-64\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Guaranteed Minimum Accumulation Benefit(GMAB)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A Guaranteed Minimum Accumulation Benefit (GMAB) is a rider, feature, or endorsement incorporated in or accompanying a Fixed or Indexed Annuity that guarantees that the annuity\u2019s Account Value will rise by a minimum defined percentage over a set period.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-34 kt-pane392_44d8d9-ea\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Guaranteed Minimum Income Benefit (GMIB)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Guaranteed Minimum Income Benefit (GMIB) is a rider, feature, or endorsement incorporated in or accompanying a Fixed or Indexed Annuity that guarantees a minimum annuitization amount regardless of the annuity\u2019s performance.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-35 kt-pane392_a4517e-a9\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Guaranteed Withdrawal Payments<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Guaranteed Withdrawal Payments are lifelong income payments that the Annuitant receives under any optional Guaranteed Lifetime Withdrawal Benefit rider on their Fixed or Indexed Annuity.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-36 kt-pane392_92291b-f0\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Guranteed Death Benefit<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Guaranteed Death Benefit is a product feature used in the pricing of cash value life insurance policies. The primary aim of the product is to provide a guaranteed death benefit for a specified length of time.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-37 kt-pane392_725535-f9\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Hybrid Index<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A Hybrid Index combines at least one index and a secondary component, such as cash, mutual fund(s), or stock(s). They are usually volatility-controlled and proprietary.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-38 kt-pane392_4541cd-3f\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Illustrated Rate<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Illustrated Rate is a hypothetical rate used to demonstrate future policy values on an Indexed Universal Life, or Indexed Whole Life policy that the insurance carrier believes is a realistic expectation of future performance based on present Indexed Life rates. Illustrated rates are not guaranteed and are usually based on an index\u2019s previous performance, which isn\u2019t necessarily predictive of future policy performance.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-39 kt-pane392_987ba0-d7\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Immediate Annuity<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">An Immediate Annuity is an insurance policy in which a lump-sum payment is converted into a stream of income within one year of purchase through annuitization.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-40 kt-pane392_8f734c-bc\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Index<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">An index is a statistical composite that evaluates changes in the economy or financial markets, usually as a percentage change from a base period or the preceding month.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-41 kt-pane392_35cea4-39\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Indexed Universal Life<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Indexed Universal Life Insurance is a type of unbundled, flexible life insurance that builds cash value and earns interest based on the performance of an external index, such as the S&amp;P 500\u00ae. Indexed Universal Life insurance has guaranteed cash values and provides lifetime coverage on the insured as long as premiums are paid, or sufficient cash values are available.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-42 kt-pane392_5d07e6-ec\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Indices<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Indices are the plural form of the word index.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-43 kt-pane392_ccd355-40\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Insolvency<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Insolvency occurs when an insurance company\u2019s assets are insufficient to cover policyholders\u2019 claims filed against it.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-44 kt-pane392_09fe08-1c\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Insured<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The person whose life is covered against death under a life insurance policy is referred to as insured.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-45 kt-pane392_32461f-5d\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Interest-Sensitive Whole Life<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Interest-sensitive Whole Life is a permanent life insurance policy that builds cash value as long as premiums are paid and earn a stated rate of interest rather than dividends. Whole Life insurance policies have guaranteed cash values and provide lifetime coverage on the insured as long as premiums are paid, or sufficient cash values are available.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-46 kt-pane392_f13ff4-34\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Joint Owner<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A Joint Owner is a person who owns a portion of an annuity contract and has the same authority as the contract owner to approve contract decisions.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-47 kt-pane392_1f7349-be\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Level<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">LEVEL is the default death benefit option (DBO) on Universal Life insurance, with the amount of death benefit given to the Beneficiary equal to the policy\u2019s Face Amount (minus any relevant loans, loan interest, and withdrawals). It\u2019s also known as Option A or Option 1.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-48 kt-pane392_bf0bab-e9\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Linked Benefit Products<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Long-term care benefits paired with another type of insurance, such as life insurance or annuities, are referred to as Linked Benefit Products.See also; Hybrid Products.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-49 kt-pane392_565dc5-44\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Loan Reduction<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Loan Reduction is a dividend option that is usually available on participating whole life insurance plans. The cash value of the payout is used to pay down any outstanding policy loans.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-50 kt-pane392_5b342a-8c\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Market Value Adujustment (MVA)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Market Value Adjustment (MVA) is a provision typically linked to deferred annuities if more than the penalty-free amount is taken or the contract is surrendered during the Surrender Charge period. It can increase or decrease the Cash Surrender Value of an annuity. If interest rates are lower at the time of withdrawal than when the contract was written, the Cash Surrender Value of the annuity will be higher (market value adjusted). The Cash Surrender Value will be lowered if interest rates are greater at the time of withdrawal than at the time of issue.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-51 kt-pane392_eeda58-a9\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Maximum Rollup Period<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A Maximum Roll up Period is the period (years) that an optional Guaranteed Lifetime Withdrawal Benefit rider increase is applied to the annuity contract\u2019s Benefit Base.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-52 kt-pane392_0539f7-d3\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Minimum Guranteed Surrender Value (MGSV)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Minimum Guaranteed Surrender Value (MGSV) is a secondary guarantee on a Fixed or Indexed Annuity that ensures the annuitant receives a minimum payout in the case of death, surrender, or index under performance (in Indexed Annuities). It\u2019s worth noting that the NAIC has specified that MGSVs on annuities can\u2019t credit less than 1% interest on 87.5 percent of the premiums paid. However, up to 3% interest of the premiums paid on the annuity can be paid based on a 5-Year Constant Maturity Treasury Rate and the annuity\u2019s design. It\u2019s worth noting that the richness of the annuity\u2019s MGSV and the contract\u2019s potential gains are inversely related.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-53 kt-pane392_04e6fd-9d\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Mortality And Expense (M&amp;E) Risks Charge<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Mortality And Expense (M&amp;E) Risks Charge is a fee that only applies to Variable Annuities. In most circumstances, the \u201cM&amp;E\u201d pays for the guaranteed death benefit, ensures that the contract\u2019s expense risks won\u2019t rise, covers a guaranteed interest rate paid on one form of Variable Annuity subaccount, and can<br>cover the insurer\u2019s annuity contract overhead expenses.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-54 kt-pane392_0d71e6-92\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">MSCI EAFE<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">MSCI EAFE is the most widely used index in the United States for measuring international equities performance. It includes MSCI country indices from Europe, Australasia, and the Far East, representing developed markets outside North America.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-55 kt-pane392_3f0d30-e1\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Multi-Year Guaranteed Annuity (MYGA)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Multi-Year Guaranteed Annuity (MYGA) is a Fixed Annuity in which the credited interest rate is guaranteed for more than one year.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-56 kt-pane392_1d5f3c-4c\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">NASDAQ-100<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The NASDAQ-100 is a modified capitalization-weighted stock market index that includes 100 of the NASDAQ\u2019s largest non-financial companies.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-57 kt-pane392_0d77b9-6a\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">National Association Of Securities Dealers (NASD)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The National Association of Securities Dealers (NASD) is a nonprofit self-regulatory association of over-the-counter securities brokers and dealers regulated by the Securities and Exchange Commission (SEC).<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-58 kt-pane392_ba08bc-ee\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">New Money Rates<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">New Money Rates is when an insurance company credits rates for premiums paid that day, based on the company\u2019s current investments. It\u2019s often more appealing and a better choice when rates are rising, less predictable, and prone to change.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-59 kt-pane392_728875-83\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">No Lapse Gurantee<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">No Lapse Guarantee is a product objective used in pricing cash value life insurance policies with a major focus on providing a death benefit guaranteed to the insured\u2019s age 100 or beyond.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-60 kt-pane392_76f4ed-06\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Non-Forfeiture Options<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Non-Forfeiture Options are options available to cash value life insurance policyholders that will provide at least a portion of their life insurance benefits if the policy lapses.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-61 kt-pane392_3ea8be-9c\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Non-Participating<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Non-Participating is a form of life insurance policy that does not receive dividend payments since it is not eligible to share in the insurer\u2019s excess earnings.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-62 kt-pane392_e1ba38-8c\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Non-Rolling Surrender Charge<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">In a flexible premium delayed annuity, the stated duration of the surrender charge term will begin the day the initial premium deposit is received. Further deposits will not be changed at the moment at which all of the funds are penalty-free.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-63 kt-pane392_97ef18-ce\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Options<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Options are calls (puts) that provide the holder the right to buy (sell) 100 shares of stock at a set price over a set period.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-64 kt-pane392_0f3421-d8\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Partial Surrender<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Partial Surrender is an insurance policy on Universal Life contracts that allows the owner to withdraw a portion of the cash value. It will diminish the death benefit and cash value proportionately in some contracts.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-65 kt-pane392_a592a8-fe\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Participating Fixed Rate Loan Interest<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Insurance companies publish the participating fixed-rate loan interest, which does not fluctuate over the loan period. Many cash value life insurance policies use Participating Fixed Rate Loan Interest credit interest on the full value of the policy, including any monies loaned against.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-66 kt-pane392_30f028-09\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Payor<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A Payor is a person or entity who pays the premiums on a life insurance policy.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-67 kt-pane392_0fd064-4f\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Per 1,000 Charges<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Per 1,000 Charges are charges that an insurance company imposes on a Universal Life policy for a specified number of years to pay costs associated with managing the policy. These charges often vary by age, sex, and issue class.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-68 kt-pane392_297f80-40\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Period Certain<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Period Certain is an immediate annuity income option that allows the contract owner to receive periodic payments for a set period. The contract value and the duration of the period chosen influence the payout amount.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-69 kt-pane392_461183-ea\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Policy Fee<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Policy Fee is an annual or monthly expenditure fee on a life insurance policy that an insurance company levies to cover the costs of running the policy.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-70 kt-pane392_d0c773-64\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Portfolio<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A portfolio is a mechanism used by insurance firms to price cash value life insurance and annuities. The credited rate is calculated using a weighted average of previous New Money rates.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-71 kt-pane392_50c278-8d\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Preferred Loans<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Preferred Loans are a specific provision on cash value life insurance policies. The amount of interest credited to the policy after a certain number of years is equal to the interest charged on any existing policy loans.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-72 kt-pane392_b094aa-bb\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Premium Bonus<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Premium Bonus is a feature available on Fixed, Variable, and Indexed Annuities. The insurance company issuing the contract credits the contract\u2019s Account Value with a specified percentage of additional money on the day the policy is issued (and often on subsequent policy anniversaries). It\u2019s worth noting that annuities with Premium Bonuses have lower rates and higher\/longer Surrender Charges than those without.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-73 kt-pane392_b35922-f3\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Premium Mode<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Premium mode is the frequency with which a life insurance policy owner pays their premiums. Annual, semi-annual, quarterly, and monthly billings are the most typical premium modes. Depending on the type of life insurance policy, less frequent premium modes may offer a lower billing amount than more frequent premium modes.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-74 kt-pane392_f658f0-56\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Premium Tax<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Premium Tax is a tax imposed on insurance firms by various states on annuity premium payments.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-75 kt-pane392_d6c198-7e\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Principal<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The principal is the whole amount invested in an annuity by the Contract Owner, excluding any interest earned.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-76 kt-pane392_8f9af1-38\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Qualified Annuity<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Qualified Annuity is a type of annuity that can fund or distribute money from a tax-qualified plan. Premiums paid can usually cut current income taxes while the accumulations are tax-deferred.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-77 kt-pane392_69c98c-40\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Recapture Charge<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Recapture Charge is a feature found on Fixed, Variable, and Indexed Annuities with Premium Bonuses that allows a portion of the Premium Bonus to be lost if a withdrawal exceeds the penalty-free amount within a specific time frame.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-78 kt-pane392_f19938-dd\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Registered Indexed Annuity<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Registered Indexed Annuity is an Indexed Annuity filed with the Securities and Exchange Commission and classed as a security.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-79 kt-pane392_be1e0a-4e\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Required Minimum Distribution (RMD)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">RMD stands for Required Minimum Distribution. Both IRAs and qualifying plans have \u201crequired\u201d distributions. You must begin withdrawing cash from your IRA by April 1st of the year following the calendar year you turn 70 1\/2. Withdrawals from eligible plans must begin by April 1st of the year following the latter of (a) reaching age 70\u00bd or (b) retiring.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-80 kt-pane392_f991b2-8d\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Rider (A.K.A. Endorsement)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A Rider is an optional benefit that can be added to the base annuity contract that affects the terms and circumstances of the annuity. It\u2019s an endorsement of a life insurance policy that either limits or adds extra benefits to the policy and becomes a part of the insurance contract.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-81 kt-pane392_ccf408-5c\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Rolling Surrender Charge<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Each deposit will have its own independent Surrender Charge in a flexible premium deferred annuity with a Rolling Surrender Charge schedule. (In the case of a 5-year Surrender Charge, the 5-year period begins the day the corporation receives the money.) As a result, at different times, different portions of the annuity contract will be \u2018Surrender Charge-free.\u2019<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-82 kt-pane392_020938-33\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Rollover<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Rollover is the transfer of money from one IRA or a qualified retirement plan to another of the same type or an IRA, keeping the tax-deferred status of the original.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-83 kt-pane392_c39ea8-c9\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Rollup Period<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Rollup Period is the number of years the Rollup on an optional Guaranteed Lifetime Withdrawal Benefit rider is credited to the Benefit Base for the first time.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-84 kt-pane392_f23a66-0d\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Rule Of 72<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Rule Of 72 is a simple way to estimate how long an investment will take to double at a given compound interest rate. Typically it\u2019s obtained by dividing the interest rate by 72.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-85 kt-pane392_73cb80-6d\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Savings Bond<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Savings Bond is a non-transferable United States government bond in denominations ranging from $50 to $10,000. They\u2019re sold at a discount, and their effective interest rate is tied to Treasury bonds. State and local income taxes are not applied to savings bond earnings, and federal income tax is postponed until the bonds are redeemed.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-86 kt-pane392_95cfcf-2b\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Securities and Exchange Commission (SEC)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Securities And Exchange Commission (SEC) is a federal organization that regulates and enforces public investment trading operations.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-87 kt-pane392_f6c0b8-7b\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Simple Interest<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Simple Interest is a type of interest crediting in which interest is only credited on the principal payment and not on the accrued interest.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-88 kt-pane392_df96e5-c3\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Solvency<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Solvency refers to an insurance company\u2019s ability to pay claims brought against it by policyholders.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-89 kt-pane392_38c939-0b\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">S&amp;P 500 Daily Risk Control 10% Total Return<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The S&amp;P 500 Daily Risk Control 10% Total Return index is an index that uses existing S&amp;P 500 methodology and overlays mathematical methods to control index risk profiles at defined volatility objectives. The indices constantly re balance exposure to sustain volatility targets of 5%, 10%, 12 percent, or 15%.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-90 kt-pane392_c2905d-73\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">S&amp;P 500 Global Broad Market Index (BMI)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The S&amp;P 500 Global Broad Market Index (BMI) is a comprehensive, rules-based index that measures global stock market performance. It is made up of the S&amp;P Developed BMI and S&amp;P Emerging BMI. Since 1989, the S&amp;P Global BMI has been the first global index suite with a fully float-adjusted, transparent, modular structure.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-91 kt-pane392_5c27ae-da\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">S&amp;P Midcap 400 Index<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The S&amp;P MIDCAP 400 Index is a benchmark for mid-sized firms that investors can use. The index strives to remain an accurate measure of mid-sized companies, reflecting the risk and return characteristics of the larger mid-cap universe on an ongoing basis. It encompasses roughly 7% of the US equity market.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-92 kt-pane392_b3c19c-10\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Spousal Continuation<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Spousal Continuation is a standard feature on optional Guaranteed Lifetime Withdrawal Benefit riders that permits the Annuitant\u2019s spouse to continue the Guaranteed Withdrawal Payments after the Annuitant has died.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-93 kt-pane392_0a714e-2b\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Stacking Rollup<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Stacking Rollup is a feature on optional Guaranteed Lifetime Withdrawal Benefit riders that assures that the GLWB\u2019s Benefit Base will rise by a certain percentage of the annuity contract, provided it\u2019s held in deferral, and Guaranteed Withdrawal Payments aren\u2019t taken. Due to the additional feature of delivering an additional component for the development of the Benefit Base, which is based on the fixed and\/or indexed gains on the base policy, the set percentage amount on a Stacking Rollup is significantly less than on a standard Rollup. This percentage is not a bonus or a guaranteed annual return on the underlying annuity contract. It can only be obtained if the Annuitant defers the insurance.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-94 kt-pane392_ab88cb-2e\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Standard Policy Form State Approval<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Standard Policy Form State Approval occurs when a state insurance division approves the precise version of the annuity policy form that the insurance company files to be sold in that state. The majority usually approves the Standard Policy Form of states across the country.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-95 kt-pane392_ef68b3-41\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Structured Premium<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A Structured Premium is a type of life insurance premium that requires a set amount of money to be paid on a set schedule.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-96 kt-pane392_4a9a8c-5b\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Suitability Review<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A Suitability Review is a procedure used by an insurance salesperson to determine the right level of risk to assume when purchasing an annuity and whether a particular annuity product is suitable for purchase.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-97 kt-pane392_4e38d7-64\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Surrender Charge Waiver<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Surrender Charge Waiver is a product feature available on Fixed, indexed, and Variable Annuities and allows annuitants to remove a portion of the value of the annuity without triggering surrender fees provided certain conditions are met. Death, disability, nursing home confinement, terminal illness, and unemployment are common reasons for a remission of Surrender Charges.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-98 kt-pane392_93fbef-77\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Target Premium<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Target Premium is one of two components of the commission paid to salespeople on all types of Universal Life insurance. The amount of premium paid on a Universal Life policy is fully commissionable to the salesperson.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-99 kt-pane392_371ffc-c2\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Tax-Sheltered Annuity (TSA)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">TSA (Tax-Sheltered Annuity) is a retirement annuity sold only to public school teachers and employees of colleges, hospitals, and other organizations that offer eligible retirement plans under section 403(b) of the United States Internal Revenue Code.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-100 kt-pane392_0cf5d6-9c\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Term Life Insurance<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Term Life Insurance is a type of temporary life insurance that does not accumulate cash value and has premiums that grow after each term renews (if it is renewable).It pays a payout only if the insured dies while the policy is in existence.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-101 kt-pane392_09ec60-17\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">U.S. 10-Year Swap Rate<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The US 10-Year Swap Rate is a daily benchmark provided by the Federal Reserve of the United States that indicates the borrowing rate between the most credit-worthy financial institutions and major enterprises in the United States.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-102 kt-pane392_eab0db-41\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Underwriting<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">When applying for life insurance, UNDERWRITING is the process of determining how much danger someone or anything poses to an entire group.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-103 kt-pane392_10b5e1-09\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Variable Annuity<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A Variable Annuity is a contract provided by an insurance firm in which the crediting of any interest is governed by the performance of the annuity owner\u2019s underlying investment decisions. A variable annuity is a high-risk, high-reward annuity product.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-104 kt-pane392_14d31d-7a\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Variable Loan Interest (VLI)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Variable Loan Interest (VLI) is a type of policy loan that fluctuates based on external indices. Many cash value life insurance policies use VLI credit interest on the full value of the policy, including any loaned-against monies.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-105 kt-pane392_8133a4-a7\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Variation State Approval<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Vesting Schedule is a feature found on Fixed, Variable, and Indexed Annuities with Premium Bonuses that displays a timeline for when the annuitant acquires ownership (or non-forfeitable rights) in the annuity contract\u2019s Premium Bonus.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-106 kt-pane392_2de9c9-85\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Wealth Transfer<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Wealth Transfer is a product objective utilized in pricing cash value life insurance policies and annuities whose principal purpose is to provide a vehicle for transferring assets to beneficiaries upon death.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-107 kt-pane392_a15d7d-23\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Whole Life<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Whole Life Insurance is a type of inflexible life insurance that builds cash value as long as premiums are paid and can produce dividends. Whole Life has guaranteed cash values and offers lifelong coverage on the insured as long as premiums are paid, or adequate cash values exist.<\/p>\n<\/div><\/div><\/div>\n<\/div><\/div><\/div>\n<\/div><\/div>\n\n\n<style>.kadence-column392_652a05-67 > .kt-inside-inner-col{padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px;}.kadence-column392_652a05-67 > .kt-inside-inner-col,.kadence-column392_652a05-67 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column392_652a05-67 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column392_652a05-67 > .kt-inside-inner-col{flex-direction:column;}.kadence-column392_652a05-67 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column392_652a05-67 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column392_652a05-67{position:relative;}.kadence-column392_652a05-67, .kt-inside-inner-col > .kadence-column392_652a05-67:not(.specificity){margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:20px;}@media all and (max-width: 1024px){.kadence-column392_652a05-67 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 1024px){.kadence-column392_652a05-67, .kt-inside-inner-col > .kadence-column392_652a05-67:not(.specificity){margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;}}@media all and (max-width: 767px){.kadence-column392_652a05-67 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"inner-column-2 wp-block-kadence-column kadence-column392_652a05-67\"><div class=\"kt-inside-inner-col\"><style>.kt-accordion-id392_b1b49e-d9 .kt-accordion-inner-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:20px;}.kt-accordion-id392_b1b49e-d9 .kt-accordion-panel-inner{border-top:0px solid transparent;border-right:0px solid transparent;border-bottom:0px solid transparent;border-left:0px solid transparent;background:var(--global-palette9, #ffffff);padding-top:30px;padding-right:30px;padding-bottom:40px;padding-left:30px;}.kt-accordion-id392_b1b49e-d9 > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;background:var(--global-palette8, #F7FAFC);font-size:1.1em;line-height:1.4em;font-weight:bold;text-transform:none;color:var(--global-palette4, #2D3748);padding-top:25px;padding-right:30px;padding-bottom:25px;padding-left:30px;}.kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle )  > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap .kt-blocks-accordion-icon-trigger:after, .kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle )  > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap .kt-blocks-accordion-icon-trigger:before{background:var(--global-palette4, #2D3748);}.kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-blocks-accordion-icon-trigger{background:var(--global-palette4, #2D3748);}.kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-blocks-accordion-icon-trigger:after, .kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-blocks-accordion-icon-trigger:before{background:var(--global-palette8, #F7FAFC);}.kt-accordion-id392_b1b49e-d9 > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header:hover, \n\t\t\t\tbody:not(.hide-focus-outline) .kt-accordion-id392_b1b49e-d9 .kt-blocks-accordion-header:focus-visible{color:var(--global-palette4, #2D3748);background:var(--global-palette8, #F7FAFC);}.kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle ) .kt-accordion-header-wrap .kt-blocks-accordion-header:hover .kt-blocks-accordion-icon-trigger:after, .kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle ) .kt-accordion-header-wrap .kt-blocks-accordion-header:hover .kt-blocks-accordion-icon-trigger:before, body:not(.hide-focus-outline) .kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle ) .kt-blocks-accordion--visible .kt-blocks-accordion-icon-trigger:after, body:not(.hide-focus-outline) .kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle ) .kt-blocks-accordion-header:focus-visible .kt-blocks-accordion-icon-trigger:before{background:var(--global-palette4, #2D3748);}.kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-accordion-header-wrap .kt-blocks-accordion-header:hover .kt-blocks-accordion-icon-trigger, body:not(.hide-focus-outline) .kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-accordion-header-wrap .kt-blocks-accordion-header:focus-visible .kt-blocks-accordion-icon-trigger{background:var(--global-palette4, #2D3748);}.kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-accordion-header-wrap .kt-blocks-accordion-header:hover .kt-blocks-accordion-icon-trigger:after, .kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-accordion-header-wrap .kt-blocks-accordion-header:hover .kt-blocks-accordion-icon-trigger:before, body:not(.hide-focus-outline) .kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-accordion-header-wrap .kt-blocks-accordion-header:focus-visible .kt-blocks-accordion-icon-trigger:after, body:not(.hide-focus-outline) .kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-accordion-header-wrap .kt-blocks-accordion-header:focus-visible .kt-blocks-accordion-icon-trigger:before{background:var(--global-palette8, #F7FAFC);}.kt-accordion-id392_b1b49e-d9 .kt-accordion-header-wrap .kt-blocks-accordion-header:focus-visible,\n\t\t\t\t.kt-accordion-id392_b1b49e-d9 > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header.kt-accordion-panel-active{color:var(--global-palette1, #3182CE);background:var(--global-palette8, #F7FAFC);border-top-color:var(--global-palette9, #ffffff);border-top-style:solid;border-right-color:var(--global-palette9, #ffffff);border-right-style:solid;border-bottom-color:var(--global-palette9, #ffffff);border-bottom-style:solid;border-left-color:var(--global-palette9, #ffffff);border-left-style:solid;}.kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle )  > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header.kt-accordion-panel-active .kt-blocks-accordion-icon-trigger:after, .kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle )  > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header.kt-accordion-panel-active .kt-blocks-accordion-icon-trigger:before{background:var(--global-palette1, #3182CE);}.kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-blocks-accordion-header.kt-accordion-panel-active .kt-blocks-accordion-icon-trigger{background:var(--global-palette1, #3182CE);}.kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-blocks-accordion-header.kt-accordion-panel-active .kt-blocks-accordion-icon-trigger:after, .kt-accordion-id392_b1b49e-d9:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-blocks-accordion-header.kt-accordion-panel-active .kt-blocks-accordion-icon-trigger:before{background:var(--global-palette8, #F7FAFC);}@media all and (max-width: 1024px){.kt-accordion-id392_b1b49e-d9 .kt-accordion-panel-inner{border-top:0px solid transparent;border-right:0px solid transparent;border-bottom:0px solid transparent;border-left:0px solid transparent;}}@media all and (max-width: 1024px){.kt-accordion-id392_b1b49e-d9 .kt-accordion-header-wrap .kt-blocks-accordion-header:focus-visible,\n\t\t\t\t.kt-accordion-id392_b1b49e-d9 > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header.kt-accordion-panel-active{border-top-color:var(--global-palette9, #ffffff);border-top-style:solid;border-right-color:var(--global-palette9, #ffffff);border-right-style:solid;border-bottom-color:var(--global-palette9, #ffffff);border-bottom-style:solid;border-left-color:var(--global-palette9, #ffffff);border-left-style:solid;}}@media all and (max-width: 767px){.kt-accordion-id392_b1b49e-d9 .kt-accordion-inner-wrap{display:block;}.kt-accordion-id392_b1b49e-d9 .kt-accordion-inner-wrap .kt-accordion-pane:not(:first-child){margin-top:20px;}.kt-accordion-id392_b1b49e-d9 .kt-accordion-panel-inner{border-top:0px solid transparent;border-right:0px solid transparent;border-bottom:0px solid transparent;border-left:0px solid transparent;}.kt-accordion-id392_b1b49e-d9 > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header{font-size:0.9em;}.kt-accordion-id392_b1b49e-d9 .kt-accordion-header-wrap .kt-blocks-accordion-header:focus-visible,\n\t\t\t\t.kt-accordion-id392_b1b49e-d9 > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header.kt-accordion-panel-active{border-top-color:var(--global-palette9, #ffffff);border-top-style:solid;border-right-color:var(--global-palette9, #ffffff);border-right-style:solid;border-bottom-color:var(--global-palette9, #ffffff);border-bottom-style:solid;border-left-color:var(--global-palette9, #ffffff);border-left-style:solid;}}<\/style>\n<div class=\"wp-block-kadence-accordion alignnone\"><div class=\"kt-accordion-wrap kt-accordion-id392_b1b49e-d9 kt-accordion-has-111-panes kt-active-pane-0 kt-accordion-block kt-pane-header-alignment-left kt-accodion-icon-style-arrow kt-accodion-icon-side-right\" style=\"max-width:none\"><div class=\"kt-accordion-inner-wrap\" data-allow-multiple-open=\"true\" data-start-open=\"none\">\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-6 kt-pane392_cfd0e9-e0\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">2-Year Treasury Note<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A 2-Year Treasury Note is a US government-issued fixed-interest security with a two-year maturity period.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-7 kt-pane392_d378da-bc\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">A.M. Best Rating<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A.M. Best Rating is an independent assessment of an insurer\u2019s financial power and capacity to meet ongoing insurance policy and contract obligations,by the A.M Best Firm.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-8 kt-pane392_3170b4-29\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Accumulate at Interest<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Accumulate at interest is a dividend option typically offered on participating whole life insurance contracts, in which dividends are deposited with the insurer and earn additional interest.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-10 kt-pane392_241556-7a\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Annualized<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Interest rates computed as an annual rate are considered Annualized.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-9 kt-pane392_96c044-c4\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Annuitization Bonus<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Annuitization bonus is a provision available on some Fixed, Variable, and Indexed Annuities that allows the insurance company issuing the annuity to credit the contract\u2019s Account Value with a specified percentage of additional money if the contract is annuitized.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-11 kt-pane392_e5e71a-ce\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">How do I enroll and register?<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-12 kt-pane392_d929be-c6\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Annuity Linked TVI Index<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Annuity Linked TVI INDEX is a volatility control overlay-tied index linked to the Trader Vic Index. The Trader Vic Index seeks to capture rising and falling price trends by holding long and short positions on 24 futures markets across commodities, foreign exchange asset classes, and fixed income monthly.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-13 kt-pane392_60cb72-a9\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Bailout Provision<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Bailout provision is a clause in an annuity contract that allows the contract owner to surrender the contract without incurring a surrender charge if renewal interest rates or Caps fall below a pre-determined level.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-14 kt-pane392_e9faf2-ad\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Base Policy<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The base policy is the principal coverage that pays after the insured passes away.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-15 kt-pane392_f809cb-52\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Benefit Base<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The benefit base value on an annuity\u2019s optional Guaranteed Lifetime Withdrawal Benefit rider is the secondary \u201cshadow fund\u201d value on which the annuitant\u2019s Guaranteed Withdrawal Payments are calculated. This value is distinct from the Account Value, and it can only be obtained by making Guaranteed Withdrawal Payments.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-16 kt-pane392_d404a9-6a\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Broker\/Dealer<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A broker is \u201cany person engaged in the business of effecting transactions in securities for the account of another,\u201d as defined by the Securities Exchange Act of 1934. \u201cAny person involved in the business of buying or selling securities for his own account\u201d is referred to as a dealer. As a result, a broker\/dealer trades for their account and other people\u2019s accounts.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-17 kt-pane392_41b067-c5\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Cash<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Cash is a payout option usually available on whole life insurance plans that allows the policy owner to receive dividends in cash (mostly in the form of a check).<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-18 kt-pane392_ad3734-7d\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Cash Surrender Value<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Cash surrender value is the amount an insurance policyholder is entitled to if they decide to stop paying the premiums.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-19 kt-pane392_e81f28-56\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Combo Products<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Long-term care benefits combined with another type of insurance, such as annuities or life insurance, are referred to as combo products.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-20 kt-pane392_e08acd-7a\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Consumer Price Index (CPI)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Consumer Price Index (CPI) is a time series measure of consumer goods and services prices in the United States.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-21 kt-pane392_55dbd1-3b\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Contract Owner<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Contract Owner is the individual or business that applies for and obtains an annuity contract, and the individual or company is responsible for funding the annuity.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-22 kt-pane392_d7e3da-48\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Death Benefit<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The death benefit is the annuity benefits provided to the listed beneficiary\/beneficiaries following the death of the Annuitant or Contract Owner.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-23 kt-pane392_297b72-bd\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Direct Recognition<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Direct Recognition is a method of handling dividends on cash value insurance products in which any current loan balance reduces the amount of the payout credited to the policy.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-24 kt-pane392_925e05-46\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Dow Jones Industrial Average (DJIA)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Dow Jones Industrial Average (DJIA) is a stock indicator that tracks the market value of 30 prominent industrial companies daily.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-25 kt-pane392_58b431-22\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Due Diligence<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Due diligence is a research carried out by insurance salespeople and other financial consultants to ascertain an investment or product\u2019s economic and legal viability.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-26 kt-pane392_573c5d-f9\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Euro Stoxx 50<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The EURO STOXX 50 is a market capitalization-weighted index of 50 blue-chip stocks from the European Monetary Union\u2019s member countries.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-27 kt-pane392_7b9a87-ed\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Executor<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">An executor is a person named in a will to carry out the decedent\u2019s wishes for asset distribution; the executor carries out their duties under court supervision.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-28 kt-pane392_203a60-2f\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Extended No-Lapse Guarantee<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Extended No-lapse Guarantee is a benefit that ensures that some life insurance policies will not lapse as long as a specified premium level is paid, regardless of interest rate performance.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-29 kt-pane392_c13b2d-af\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Face Amount<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Face Amount is the amount of life insurance that a policy owner purchases. The actual death benefit paid on a death claim could differ from the face amount due to death benefit options, policy riders, loans, interest on loans, and withdrawals.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-30 kt-pane392_adf569-0e\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Fee-based Annuity<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A fee-based annuity is sold where the advisor is compensated via a flat fee instead of a sales commission percentage.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-31 kt-pane392_5fca04-ce\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Financial Industry Regulatory Authority (FINRA)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Financial Industry Regulatory Authority (FINRA) is a nonprofit self-regulatory organization of over-the-counter securities brokers and dealers regulated by the Securities and Exchange Commission (SEC).<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-32 kt-pane392_1c87d2-e5\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Fixed Annuity<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A fixed annuity is an insurance contract that guarantees a minimum interest rate while crediting a stated rate of extra interest based on the insurer\u2019s overall account performance.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-33 kt-pane392_07c023-23\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Flexible Premium Deferred Annuity (FPDA)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A flexible premium deferred annuity (FPDA) is an annuity contract purchased with a premium payment that provides an individual with a regular stream of income payments from the issuer at a future date while retaining the opportunity to make additional payments into the contract until that date.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-34 kt-pane392_130eeb-cc\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Forced Asset Allocation Model<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A forced asset allocation model is when an insurance company forces a Variable or Indexed Annuity purchaser to distribute their premiums among the numerous crediting methods based on criteria set by the issuing insurance company.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-35 kt-pane392_424acc-72\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Free Withdrawal Provision<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The free withdrawal Feature is an annuity contract provision that allows the annuity owner to take a portion of the annuity\u2019s Account Value (usually 10%) within the accumulation period without paying a Surrender Charge.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-36 kt-pane392_2f6bb0-f7\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">General Account<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A General Account is a portfolio of investments used by an insurance company to invest premium income. Safe, conservative, and guaranteed investments, such as real estate and mortgages, make up the majority of this portfolio.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-37 kt-pane392_3211c3-6e\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Guaranteed Lifetime Withdrawal Benefit (GLWB)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Guaranteed Lifetime Withdrawal Benefit (GLWB) is a rider or other feature incorporated in or that accompanies a Fixed or Indexed Annuity that guarantees annual withdrawals at a certain level (depending on the annuitant\u2019s age), even if the contract\u2019s Account Value falls to zero.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-38 kt-pane392_9c6665-d7\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Guaranteed Minimum Death Benefit (GMDB)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Guaranteed Minimum Death Benefit (GMDB) is a rider, feature, or endorsement incorporated in or accompanying a Fixed or Indexed Annuity that guarantees that the Death Benefit payable will not be less than a certain amount.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-39 kt-pane392_a2d50e-c1\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Guaranteed Minimum Withdrawal Benefit (GMWB)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Guaranteed Minimum Withdrawal Benefit (GMWB) is a rider, feature, or endorsement incorporated in or that accompanies a Fixed or Indexed Annuity that guarantees annual withdrawals at a specified level (based on the annuitant\u2019s age) until the policy\u2019s premiums are returned, regardless of the annuity\u2019s performance.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-40 kt-pane392_14151d-8c\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Gurantee Period<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Guaranteed Minimum Withdrawal Benefit (GMWB) is a rider, feature, or endorsement incorporated in or that accompanies a Fixed or Indexed Annuity that guarantees annual withdrawals at a specified level (based on the annuitant\u2019s age) until the policy\u2019s premiums are returned, regardless of the annuity\u2019s performance.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-41 kt-pane392_b960a5-99\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Hang-Seng<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">HANG-SENG is a market-weighted index comprising 33 equities that account for around 70% of the market value of all companies traded on the Hong Kong Stock Exchange.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-42 kt-pane392_5f1b3f-a8\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Hybrid Products<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Long-term care benefits that are paired with another type of insurance, such as life insurance or annuities, are referred to as Hybrid Products.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-43 kt-pane392_bb69f4-d2\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Illustrated Rate LookBack Method<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Illustrated Rate Lookback Method is a strategy that Insurance providers employ to determine their Indexed Life illustrated rate (i.e., 20-Year Lookback). While most carriers look at the past performance of the index when determining the crediting method of their index, some carriers choose not to use a look back at all and simply select a rate that they believe is reasonable to them.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-44 kt-pane392_2531d9-43\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Increasing<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">INCREASING is a death benefit option (DBO) on a Universal Life policy that pays the Beneficiary the Face Amount of the policy plus the Account Value of the policy (minus any applicable loans, loan interest, and withdrawals). It\u2019s also known as Option B or Option 2.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-45 kt-pane392_fcfb67-ac\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Indexed Annuity<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">INCREASING is a death benefit option (DBO) on a Universal Life policy that pays the Beneficiary the Face Amount of the policy plus the Account Value of the policy (minus any applicable loans, loan interest, and withdrawals). It\u2019s also known as Option B or Option 2.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-46 kt-pane392_8fc5d0-7b\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Indexed Whole Life<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Indexed Whole Life is a type of permanent interest-sensitive life insurance that builds cash value and earns interest based on the performance of an external index such as the S&amp;P 500\u00ae. Indexed Whole Life insurance has guaranteed cash values and provides lifetime coverage on the insured as long as premiums are paid, or sufficient cash values are available.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-47 kt-pane392_357453-e1\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Individual Retirement Account(IRA)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">An Individual Retirement Account (IRA) is a tax-deferred savings plan that allows persons with earned income to put a part of their earnings into it.<br>An IRA can be started and funded at any time between January 1st of the current year and the deadline for filing an individual\u2019s tax return (usually April 15 of the following year), excepting extensions.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-48 kt-pane392_b04f44-4d\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Insurable Interest<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Insurable Interest is defined as being in a position to lose money if the insured person dies. It is necessary to have an insurable interest to apply for life insurance on someone other than oneself.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-49 kt-pane392_bff176-b4\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Interest Rate Bonus<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Interest Rate Bonus is a feature available on Fixed and Multi-Year Guaranteed Annuities. The issuing insurance company offers a higher introductory credited interest rate in addition to the base annuity credited interest rate.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-50 kt-pane392_0d0886-75\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Joint Annuitant<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Joint Annuitant is a person specified in the annuity contract with the annuitant, whose age and life expectancy are also factored into the calculations to determine the annuity payments.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-51 kt-pane392_80533c-2c\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Lehman Brothers Aggregate Bond Index<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Lehman Brothers Aggregate Bond Index is a collection of Treasury bonds, notes, and government agency bonds issued by the United States government(excluding mortgage-backed securities).<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-52 kt-pane392_e20ff6-65\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Limited Premium<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Limited Premium is a type of life insurance premium requiring premiums to be paid for only a specific amount of time, such as 10 or 20 years.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-53 kt-pane392_093975-18\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Loan Interest Reduction<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Loan Interest Reduction is a dividend option that is frequently available on participating whole life insurance plans. The cash value of the payout is used to lower the amount of any outstanding policy loan interest.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-54 kt-pane392_5bdaba-47\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Long Term Care (LTC) Kicker<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Long Term Care (LTC) Kicker is a provision on several optional Guaranteed Lifetime Withdrawal Benefit riders that enhances the Guaranteed Withdrawal Payment amount provided the annuitant meets the company\u2019s long-term care benefit criteria. The Pension Protection Act does not provide preferential tax treatment to LTC Kickers.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-55 kt-pane392_f9bbba-f6\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Maturity Date<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Maturity Date is the deadline for converting an annuity into income payments (or annuitization).<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-56 kt-pane392_a4bc2c-c5\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">MEC<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">MEC stands for Modified Endowment Contract. The Internal Revenue Code was revised in 1988 to state that if a policy was over-funded (at the time of issue or later), it was a MEC. Any distribution indicating a gain from the policy would be taxed. The seven-pay test was created to limit the amount of premiums that can be paid for MEC testing over a seven-year period.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-57 kt-pane392_c22c79-38\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Monthly Expense Charge (PER 1,000)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Monthly Expense Fee (PER 1,000) is a charge levied on Universal Life policies for every $1,000 of coverage requested (thus the term \u201cPer 1,000 charge\u201d).It typically varies by age, sex, and issue class.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-58 kt-pane392_58dc90-d8\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Mortality Charges<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Mortality Costs, also known as Cost of Insurance charges or COIs, are charges on a Universal Life policy that cover the cost of life insurance coverage.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-59 kt-pane392_2bcd21-2b\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">MSCI Emerging Markets<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">MSCI Emerging Markets is a market capitalization index that tracks equity market performances in emerging markets worldwide.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-60 kt-pane392_4a05af-d0\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">NASDAQ<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">NASDAQ is an acronym for National Association of Securities Dealers Automated Quotation; the Over-the-Counter (OTC) market\u2019s automated quotation system displays current bid-ask values for thousands of companies.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-61 kt-pane392_71e508-1a\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">National Association Of Insurance Commissioners <\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The National Association of Insurance Commissioners (NAIC) is the standard-setting and regulatory organization in the U.S. It was created and is controlled by the chief insurance regulators of all 50 states, the District of Columbia, and five U.S territories.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-62 kt-pane392_8b3634-98\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">New Money<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">New Money is a mechanism that insurance firms use to price cash value life insurance and annuities that determine the credited rate depending on the rates available for premiums paid that day.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-63 kt-pane392_83be91-37\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">NIKKEI 225<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The NIKKEI 225 is a Tokyo Stock Exchange stock market index.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-64 kt-pane392_c5ea4b-a8\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Non-Direct Recognition<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Non-Direct Recognition is a method of dealing with dividends on cash value life insurance policies. Any outstanding loan balance does not harm the amount of the dividend credited to the policy.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-65 kt-pane392_cddf87-a3\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Non-Forfeiture Provision<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Non-Forfeiture Provision is a benefit that prevents a cash value policy from lapse owing to premium non-payment.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-66 kt-pane392_8a3261-86\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Non-Qualified Annuity<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A Non-Qualified Annuity has no contribution limit and no necessary minimum payouts at age 70\u00bd (unlike qualified). It is open to any annuity buyer and can be funded with after-tax cash from any source.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-67 kt-pane392_43a145-96\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">One-Year Term Insurance<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">One-Year Term Insurance is a dividend option that is usually available on participating whole life insurance contracts. The dividend\u2019s cash value is used to purchase a single premium for one year of term life insurance, increasing the death benefit on the policy.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-68 kt-pane392_c400cd-c5\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Paid-Up Additional Insurance (PUA)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Paid-Up Additional Insurance (PUA) is a dividend option usually available on whole life insurance products. The dividend\u2019s cash value is used to purchase an additional whole life insurance contract without paying additional premiums on the extra coverage. This dividend option increases the amount of the death benefit paid on the policy and increases the amount of the death benefit paid on the policy.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-69 kt-pane392_b9d064-21\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Participating<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A participating life insurance policy is a type of life insurance policy that receives dividend payments from the life insurance company due to being entitled to share in the insurer\u2019s surplus earnings. Dividends are treated as a tax-free return of premiums paid.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-70 kt-pane392_6f9a9d-53\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Participation Rate<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Participation Rate is the percentage of positive index movement considered in an Indexed Annuity\u2019s crediting calculation. A-Cap Rate or a Spread Rate can also be used in indexed crediting techniques.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-71 kt-pane392_838a08-05\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Penalty-Free Withdrawals<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Penalty-free withdrawals are the maximum annual amount that an annuitant can withdraw from the value of their annuity without incurring Surrender Charges. The Return-of-Premium (ROP) Option is a provision that gives the annuity purchaser a refund of the premiums paid at any time throughout the contract. This amount is usually expressed as a percentage of the annuity\u2019s Account Value, usually 10%.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-72 kt-pane392_f62925-d8\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Percent (%) Of Fund Charge<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Percent (%) of Fund Charge is an expense charge on a Universal Life policy that an insurance company deducts from the Account Value of a life insurance policy to cover administrative costs.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-73 kt-pane392_5e9c1e-e3\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Pimco U.S. Advantage Index<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Pimco U.S Advantage Index is a broad-based bond market index that includes interest rate swaps,<br>investment-grade corporate bonds, inflation-protected securities, and instruments like mortgage-backed securities.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-74 kt-pane392_9d8788-bd\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Policyowner<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A Policyowner is a person or entity who owns a life insurance policy and has the authority to amend it.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-75 kt-pane392_603f09-80\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Portfolio-Based Rates<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Portfolio-Based Rates are when an insurance carrier credits rates based on their investment portfolio. They are usually more conservative and may create a better result for the consumer when interest rates are lower because of the broad portfolio with varying maturities.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-76 kt-pane392_fc8d76-46\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Premature Withdrawal<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Premature Withdrawal involves taking funds out of an annuity before the Contract Owner reaches 59\u00bd. In addition to any income taxes owed, you can be subject to a 10% federal tax penalty and a policy surrender charge from the insurance carrier.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-77 kt-pane392_1ca794-45\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Premium Load<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Premium Load is an expenditure charge imposed by an insurance company on a Universal Life policy each time a premium is paid to compensate for costs incurred to administer the policy. The most popular premium modes are yearly, semi-annual, quarterly, and monthly billings. Depending on the type of life insurance, less frequent premium modes can offer a decreased billing amount compared to more frequent premium modes.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-78 kt-pane392_7290fa-ed\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Premium Reduction<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Premium Reduction is a dividend option that is usually available on whole life insurance products, whereby the cash value of the dividend is used to lower the amount of the policy\u2019s premium due.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-79 kt-pane392_246c2f-d6\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Premium Type<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Premium Type refers to the type of premiums that must be paid on a life insurance policy; alternatives include \u2018Limited Premium\u2019, \u2018Flexible-Premium\u2019, ,\u2018Single Premium\u2019, and \u2018Structured Premium\u2019.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-80 kt-pane392_066f8a-5e\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Prospectus<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">According to federal laws, a Prospectus is a written document that must be presented to any prospective Variable Annuity purchaser before the sale. It explains the investing goals of any separate accounts, the success of subaccounts in the past, and any fees or charges.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-81 kt-pane392_87108e-b5\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Rainbow Crediting Method<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Rainbow Crediting Method is an indexed crediting method that looks back over the crediting period and then credits a percentage depending on the performance of the better-performing indexes. For example, an insurance carrier can offer indices A, B, and C on an annual point-to-point multiple index crediting system. In the crediting formula, the best-performing index receives a 75 percent weighting, the next-best performing index receives a 25 percent weighting, and the least-best performing index receives no credit. At the end of the term, the insurance company applies a Participation Rate, Cap, or Spread to any potential indexed profits.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-82 kt-pane392_9e9f87-49\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Reduced Paid-Up (RPU) Insurance<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">RPU Insurance is a sort of Non-Forfeiture Option available on cash value life insurance plans that leverages the policy\u2019s cash value at the time of lapse to purchase as much paid-up insurance as possible.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-83 kt-pane392_3ef6ff-07\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Renewal Rates<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">RPU Insurance is a sort of Non-Forfeiture Option available on cash value life insurance plans that leverages the policy\u2019s cash value at the time of lapse to purchase as much paid-up insurance as possible.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-84 kt-pane392_973e72-00\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Return-Of-Premium (ROP) Option<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Return-of-Premium (ROP) Option is an annuity option that gives the annuity purchaser a refund of the premiums paid at any time throughout the contract.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-85 kt-pane392_77a45b-51\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Risk Averse<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A Risk-Averse Client or Investor will not take on a certain amount of risk unless they believe they will be adequately compensated for it.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-86 kt-pane392_c16f03-71\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Rolling Target Premiums<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Rolling Target Premiums is a typical feature on all types of Universal Life insurance if the policy owner\u2019s premium is less than the target premium. The salesperson gets paid full commissions until the target premium is met.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-87 kt-pane392_3c721e-91\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Rollup<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Rollup is a typical feature on optional Guaranteed Lifetime Withdrawal Benefit riders that promises that the GLWB\u2019s Benefit Base will grow by a certain percentage of the annuity contract is held in deferral, and Guaranteed Withdrawal Payments are not taken. This percentage is not a bonus or a guaranteed annual return on the underlying annuity contract. It can only be obtained if the Annuitant defers the insurance. In most cases, the Rollup is limited to a specific number of years.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-88 kt-pane392_27d5c6-59\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Rollup Period Reset<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Rollup Period Reset is a feature included on many optional Guaranteed Lifetime Withdrawal Benefit riders that allows the purchaser to re-start the Rollup Period, allowing the Annuitant to benefit from any Rollup for a more extended period. Typically, these resets can only happen once every five years or so, depending on the contract.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-89 kt-pane392_d0adc5-38\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Russell 2000 Index<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Russell 2000 Index is an American stock market index that measures the performance of small-cap stocks. The Russell 2000 is a subset of the Russell 3000\u00ae Index, accounting for around 10% of the index\u2019s total market capitalization. It covers about 2000 of the tiniest securities depending on their market capitalization and current index participation.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-90 kt-pane392_a69337-21\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Second-To-Die Insurance<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Second-To-Die Insurance, also known as survivorship life insurance, is a type of life insurance that does not pay out until the second insured person on the policy passes away. The death payments from these policies are frequently intended to be used to pay back taxes.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-91 kt-pane392_c2f889-42\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Separate Account<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A Separate Account is the investment portfolio of an insurance provider that supports Variable Annuities, Variable Universal Life, and Variable Life. It is held separate from the company\u2019s ordinary investment accounts.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-92 kt-pane392_ff66fd-cf\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Single Premium Deferred Annuity (SPDA)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A Single Premium Deferred Annuity (SPDA) is an annuity contract purchased with a single premium payment that provides an individual with a continuous stream of income payments from the issuer at some point in the future in exchange for a single premium payment.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-93 kt-pane392_9d77a2-ab\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">S&amp;P 500 Composite Index (S&amp;P 500)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The S&amp;P 500 Composite Index (S&amp;P 500) is a market value index of stock market activity that includes 500 of the most popular stocks.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-94 kt-pane392_170afc-38\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">S&amp;P 500 Daily Risk Control 5% Total Return<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The S&amp;P 500 Daily Risk Regulate 5% Total Return is an index that uses conventional S&amp;P 500 methodology and mathematical overlay methods to control index risk profiles at preset volatility objectives. The index constantly re balances exposure to sustain volatility targets of 5%, 10%, 12%, or 15%.<\/p>\n\n\n\n<p class=\"\">The S&amp;P 500 Daily Risk Regulate 5% Total Return is an index that uses conventional S&amp;P 500 methodology and mathematical overlay methods to control index risk profiles at preset volatility objectives. The index constantly re balances exposure to sustain volatility targets of 5%, 10%, 12%, or 15%.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-95 kt-pane392_da65dc-95\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">S&amp;P GSCI<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The S&amp;P GSCI, formerly known as the \u201cGoldman Sachs Commodity Index\u201d, is a benchmark for commodity investment and a measure of commodity performance across time.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-96 kt-pane392_a8a0d9-6e\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Specimen Contract<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A specimen Contract is a general sample annuity contract.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-97 kt-pane392_f04092-be\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Spread Rate (a.k.a. Asset Fee, Margin)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">In the crediting computation on an Indexed Annuity, the Spread Rate (a.k.a. Asset Fee, Margin) is a deduction made from the positive index growth at the end of the index term. A-Cap Rate or a Participation Rate can also be used in indexed crediting mechanisms.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-98 kt-pane392_55a560-2d\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Standard And Poor\u2019s Rating (S&amp;P Rating)<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Standard And Poor\u2019s Rating (S&amp;P RATING) is a third-party assessment of an insurer\u2019s financial strength and capacity to meet its ongoing insurance policy and contract obligations, as reported by Standard and Poor\u2019s.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-99 kt-pane392_5ddb2a-c8\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">State Guaranty Funds<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">State Guaranty Funds are funds established by 50 states to protect contract holders if an insurance company goes bankrupt. Most state guaranty funds levy an additional fee on their admitted insurers to cover any insolvencies within the state. Different states have different protection limits. Insurance companies pay for all guaranty associations, which are then controlled by the states.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-100 kt-pane392_701488-e6\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Sub Account<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A sub-account is the investment portfolio offered in Variable Annuity contracts where premiums can be allocated.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-101 kt-pane392_34eaac-03\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Surrender Charge<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Surrender Charge is a penalty levied by the insurance company for prematurely withdrawing funds from an annuity. It usually applies during the first 7-10 years of the contract.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-102 kt-pane392_dc32a6-48\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Sweep<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Sweep is the frequency with which an indexed life insurance carrier permits the account value of an indexed life policy to be allocated to an indexed strategy to construct an indexed bucket. It can range from daily to annually, depending on the firm.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-103 kt-pane392_5d5d5e-ce\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Tax-Deferral<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Tax-Deferral occurs when taxes on earnings are postponed until the annuity\u2019s earnings are withdrawn.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-104 kt-pane392_87f020-f7\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">TEFRA<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) was the first law to mandate a gap between a policy\u2019s face amount and its cash value in the definition of life insurance contracts.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-105 kt-pane392_e13204-1b\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Two-Tiered Annuity<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A two-Tiered Annuity contains an interest rate component credited to the annuity during the accumulation period that is competitive with comparable non-two-tiered plans, and benefits are conditional on annuitization. If the owner does not maintain the policy, they will be charged a Surrender Charge. They will be retroactively credited with lower interest rates dating back to the beginning of the contract. In this case, the contract owner would receive one tier of interest rates by staying with the contract through annuitization and another, the lower tier of rates if they do not). On Two-Tiered Annuities, it\u2019s a good idea to compare the annuitization rates with the rates during the accumulation phase.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-106 kt-pane392_1d401c-f5\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">U.S. 10-Year Treasury Bond<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">The US 10-YEAR TREASURY BOND is a ten-year marketable fixed-interest government debt security issued by the United States.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-107 kt-pane392_28a051-03\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">U.S. 10-Year Treasury BondUniversal Life<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Universal Life insurance is a permanent, unbundled, flexible life insurance that creates cash value and earns interest rather than dividends. Universal Life has guaranteed cash values and offers lifetime coverage on the insured as long as premiums are paid, or adequate cash values are available.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-108 kt-pane392_6b6bd8-6c\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Variable Life<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Variable Life is a permanent Whole Life plan with cash values and death benefits that fluctuate depending on the performance of stocks, mutual funds, bonds,and other investments. It provides lifelong coverage to the insured as long as premiums are paid or cash values are sufficient. Variable Life is only offered by a few insurance companies today, and it must be marketed through a prospectus, just as Variable Universal Life.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-109 kt-pane392_fa7449-5b\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Variable Universal Life<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Variable Universal Life insurance is a type of unbundled, permanent life insurance policy that accumulates cash value and earns interest based on the success of stocks, index funds, bonds, and other investments. Variable Universal Life has no guaranteed cash values, but it does provide lifetime coverage on the insured if performance warrants it.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-110 kt-pane392_d7501d-ba\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Vesting Schedule<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">A Variation State Approval is when a state insurance division allows a modified form of the Standard Annuity Policy Form to be sold within their state.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-111 kt-pane392_130df1-11\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\">Weighting Multiple Index Crediting Method<\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"\">Weighting Multiple Index Crediting Technique is an indexed crediting method. Two or more indices offered on the crediting method receive a stated percentage weighting over the crediting term. Depending on each index\u2019s weightings and performance, potential indexed gains will be credited at the end of the period. An insurance business, for example, can offer indices A, B, and C as part of a monthly average multiple index crediting system. Over three years, Index A will be given a 40% weighted; Index B will be given a 35% weighting, and Index C will be given a 25% weighting. At the end of the term, the carrier applies a Participation Rate, Cap, or Spread to any potential indexed profits.<\/p>\n<\/div><\/div><\/div>\n<\/div><\/div><\/div>\n<\/div><\/div>\n\n<\/div><\/div><\/div><\/div>\n\n<\/div><\/div>\n\n<style>.kb-row-layout-id392_c9dff3-f5 > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id392_c9dff3-f5 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id392_c9dff3-f5 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);max-width:600px;margin-left:auto;margin-right:auto;padding-top:80px;padding-right:0px;padding-bottom:80px;padding-left:0px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id392_c9dff3-f5 > .kt-row-layout-overlay{opacity:0.50;background-image:url('https:\/\/indexeduniversallife.us\/wp-content\/uploads\/2021\/04\/bg-0.png');background-size:cover;background-position:center center;background-attachment:scroll;background-repeat:no-repeat;}@media all and (max-width: 1024px){.kb-row-layout-id392_c9dff3-f5 > .kt-row-column-wrap{padding-top:70px;padding-right:40px;padding-bottom:70px;padding-left:40px;grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id392_c9dff3-f5 > .kt-row-column-wrap{padding-top:70px;padding-right:20px;padding-bottom:70px;padding-left:20px;grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id392_c9dff3-f5 alignnone has-theme-palette8-background-color kt-row-has-bg wp-block-kadence-rowlayout\"><div class=\"kt-row-layout-overlay kt-row-overlay-normal\"><\/div><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column392_e1f4c6-0f > .kt-inside-inner-col{padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px;}.kadence-column392_e1f4c6-0f > .kt-inside-inner-col,.kadence-column392_e1f4c6-0f > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column392_e1f4c6-0f > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column392_e1f4c6-0f > .kt-inside-inner-col{flex-direction:column;}.kadence-column392_e1f4c6-0f > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column392_e1f4c6-0f > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column392_e1f4c6-0f{position:relative;}@media all and (max-width: 1024px){.kadence-column392_e1f4c6-0f > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column392_e1f4c6-0f > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"inner-column-1 wp-block-kadence-column kadence-column392_e1f4c6-0f\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading392_790c84-ce, .wp-block-kadence-advancedheading.kt-adv-heading392_790c84-ce[data-kb-block=\"kb-adv-heading392_790c84-ce\"]{margin-bottom:40px;text-align:center;line-height:1em;font-style:normal;text-transform:capitalize;}.wp-block-kadence-advancedheading.kt-adv-heading392_790c84-ce mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading392_790c84-ce[data-kb-block=\"kb-adv-heading392_790c84-ce\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading392_790c84-ce img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading392_790c84-ce[data-kb-block=\"kb-adv-heading392_790c84-ce\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<h2 class=\"kt-adv-heading392_790c84-ce wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading392_790c84-ce\">We Welcome Your Question!<\/h2>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading392_6004ae-3c, .wp-block-kadence-advancedheading.kt-adv-heading392_6004ae-3c[data-kb-block=\"kb-adv-heading392_6004ae-3c\"]{margin-top:0px;margin-right:0px;margin-bottom:20px;margin-left:0px;text-align:center;font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading392_6004ae-3c mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading392_6004ae-3c[data-kb-block=\"kb-adv-heading392_6004ae-3c\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading392_6004ae-3c img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading392_6004ae-3c[data-kb-block=\"kb-adv-heading392_6004ae-3c\"] img.kb-inline-image{width:150px;vertical-align:baseline;}@media all and (max-width: 1024px){.wp-block-kadence-advancedheading.kt-adv-heading392_6004ae-3c, .wp-block-kadence-advancedheading.kt-adv-heading392_6004ae-3c[data-kb-block=\"kb-adv-heading392_6004ae-3c\"]{margin-top:0px;margin-right:0px;margin-bottom:20px;margin-left:0px;}}<\/style>\n<p class=\"kt-adv-heading392_6004ae-3c wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading392_6004ae-3c\">We\u2019d love to hear from you! If you have any questions or need assistance, don\u2019t hesitate to reach out to us. Whether you\u2019re curious about our services, need advice, or simply want more information, we\u2019re here to help.<\/p>\n\n\n<style>.wp-block-kadence-advancedbtn.kb-btns392_d44c36-27{gap:var(--global-kb-gap-xs, 0.5rem );justify-content:center;align-items:center;}.kt-btns392_d44c36-27 .kt-button{font-weight:normal;font-style:normal;}<\/style>\n<div class=\"wp-block-kadence-advancedbtn kb-buttons-wrap kb-btns392_d44c36-27\"><style>ul.menu .wp-block-kadence-advancedbtn .kb-btn392_fb48c5-79.kb-button{width:initial;}.wp-block-kadence-advancedbtn .kb-btn392_fb48c5-79.kb-button{padding-top:14px;padding-bottom:14px;margin-top:20px;margin-right:0px;margin-bottom:0px;margin-left:0px;}<\/style><a class=\"kb-button kt-button button kb-btn392_fb48c5-79 kt-btn-size-standard kt-btn-width-type-auto kb-btn-global-inherit  kt-btn-has-text-true kt-btn-has-svg-false  wp-block-button__link wp-block-kadence-singlebtn\" href=\"\/contact-4\"><span class=\"kt-btn-inner-text\">Ask a Question<\/span><\/a><\/div>\n<\/div><\/div>\n\n<\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>IUL Glossary Feel free to educate yourself and browse our glossary of IUL related terms, concepts, and definitions! Click Ctrl+F ( PC ) Cmnd+F ( Mac ) To search the Glossary We Welcome Your Question! We\u2019d love to hear from you! If you have any questions or need assistance, don\u2019t hesitate to reach out to&#8230;<\/p>","protected":false},"author":1,"featured_media":1840,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"nf_dc_page":"","_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_kadence_starter_templates_imported_post":true,"_kad_post_transparent":"","_kad_post_title":"hide","_kad_post_layout":"fullwidth","_kad_post_sidebar_id":"","_kad_post_content_style":"unboxed","_kad_post_vertical_padding":"hide","_kad_post_feature":"hide","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"class_list":["post-392","page","type-page","status-publish","has-post-thumbnail","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Comprehensive IUL glossary and key terminology<\/title>\n<meta name=\"description\" content=\"Explore our comprehensive IUL glossary and key terminology to better understand Indexed Universal Life insurance. 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