Terms with Category Estate Management
- Fiduciary — Definition,
- An individual, company, or association that manages assets for another party. Fiduciaries include executors of wills and estates, trustees, receivers in bankruptcy, and those responsible for managing the finances of a minor.
- Fiduciary Duty — Definition,
- A requirement that someone in a position of trust, such as a banker, real-estate agent, or title agent, must act in good faith and trust on behalf of a client.
- Fixed Annuity — Definition,
- An annuity that makes fixed payments to the annuitant with guarantees for earnings and principal.
- Future Value of an Annuity (FVA) — Acronym,
- The value of an annuity at some future date.
- Group Life Insurance — Definition,
- Life insurance offered to a large number of people belonging to an organization, usually as part of a benefit package.
- Guarantee Period — Definition,
- A time period where income payments from an annuity are guaranteed.
- Human Life Approach — Definition,
- A method of estimating what the probable lifetime financial impact a life insurance policyholder's death would have on his or her beneficiaries.
- Hybrid Annuity — Definition,
- An annuity with both fixed and variable annuity elements.
- Indexed Annuity — Definition,
- An annuity where investment performance is pegged to a stock index.
- Inflation-Protected Annuity — Definition,
- An annuity that guarantees a return equal to or above inflation.
- Investment in the Contract — Definition,
- The principal that has been contributed to an annuity.
- Irrevocable Beneficiary — Definition,
- A life insurance or segregated fund beneficiary whose benefit cannot be revoked or modified in any way without his or her consent.
- Joint and Survivor Annuity — Definition,
- An annuity with multiple annuitants (usually spouses) that makes payments as long as either of the annuitants are alive.
- Life Annuity — Definition,
- An annuity that will continue to make payments until the death of the annuitant.
- Life Insurance — Definition, Very Important,
- An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
➥ CanEquity offers life insurance. - Life Insurance Trust (LIT) — Acronym,
- A legal entity that is made the beneficiary of a life insurance policy, often arranged to evade taxation.
- Living Benefits — Definition,
- The option for a life insurance policyholder to receive a portion of their death benefit in advance of their death.
- Maturity Guarantee — Definition,
- A guarantee that after a certain date a contract, such as a life insurance policy or annuity, will have a minimum dollar value.
- Mortgage Insurance — Definition, Very Important,
- Insurance that protects a lender if a homeowner fails to pay off his or her mortgage.
- A policy covering a mortgagor from which the benefits are intended (a) to pay off the balance due on a mortgage upon the death of the insured, or (b) to meet the payments on a mortgage as they fall due in the case of his death or disability.
➥ CanEquity offers mortgage insurance. - Mortgage Life Insurance — Definition, Very Important,
- Insurance that covers the costs of paying off a mortgage if the insured dies or becomes disabled.
- Needs Approach — Definition,
- A way of determining how much life insurance an individual should purchase by examining the future obligations and needs of the beneficiaries.
- No-Load Annuity — Definition,
- An annuity that pays the salesperson no commission and has low fees and expenses. A no-load annuity is often sold by an insurer directly.
- No-Load Life Insurance — Definition,
- A type of life insurance policy that is sold without a commission for the selling agent.
- Permanent Life Insurance — Definition,
- A class of life insurance policies, which include both universal and whole life insurance, with guaranteed death benefits at the end of their terms.
- Policy Loan — Definition,
- A loan where a life insurance policyholder's death benefit is used as collateral.
- Present Value Interest Factor of Annuity (PVIFA) — Acronym,
- A method used to find an annuity's present value.
- Probate Sale — Definition,
- Sale of property after the death of the owner, supervised by a court, with proceeds divided among creditors and heirs.
- Revocable Beneficiary — Definition,
- A beneficiary whose benefit can be modified without his or her consent.
- Second-To-Die Insurance — Definition,
- Life insurance that only pays a death benefit when both spouses have died, commonly used in estate planning.
- Single Premium Deferred Annuity (SPDA) — Acronym,
- A deferred annuity funded with a single payment.
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Fiduciary -
Future Value of an Annuity
Future Value of an Annuity
