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| A beneficiary that cannot be changed without written consent. |
| Benefits available in some life insurance policies before death and usually triggered by long-term, catastrophic or terminal
illness. |
| A provision added to a life insurance policy for payment of an additional benefit in case of death that results from an
accident. This provision is often called "double indemnity." |
| The accumulated premiums and interest after expense charges cost of insurance, and charges for any supplemental benefits or riders in Universal life Insurance policies. Used to determine the policy's amount-at-risk in calculating mortality charges. A surrender charge is applied to it to determine the loan and surrender cash value. |
| Money paid in or transferred into an investment division of the Separate Account is credited in the form of accumulation
units. Any increase or decrease in value is based upon the investment performance of the corresponding underlying investment portfolio. |
| Hands on" portfolio management of a fund with the sole purpose of trying to outperform the return of an unmanaged or passive
benchmark or index. Active managers use economic data, investment research, market forecasts, etc. to help make investment decisions. |
| An age calculation based on a person's last birth date (actual age) for premium rate determinations. |
| A mathematician employed by an insurance company to calculate premiums, reserves, dividends, and insurance, pension, and
annuity rates, using risk factors obtained from experience tables. |
| A type of life insurance that allows the policy holder to change the plan of insurance, raise or lower the face amount of the
policy, increase or decrease the premium and lengthen or shorten the protection period. |
| Annual premiums paid in advance at a discount. The interest earned on the amount deposited before the premium due date
reduces the cost of the premiums. |
| The tendency of persons with higher risk health expectations to apply for or continue insurance coverage to a greater extent
than persons with lesser health expectations. |
| The amount paid by a fund company to the investment manager for managing or advising the fund's portfolio. Sometimes referred
to as management fee. At the client level, an advisory fee is paid to a financial advisor for portfolio oversight, financial planning, and other related
services. |
| The return from an investment after all income taxes have been accounted for and deducted. The SEC has adopted a number of
rule and form amendments requiring mutual funds to disclose standardized after-tax returns. The amendments require a mutual fund to disclose standardized
after-tax returns for 1-, 5-, and 10-year periods in the risk/return summary of the prospectus. |
| Term used to describe investments or contracts purchased with money that has already been taxed. Also known as
"non-qualified" investments or contracts. |
| The date on which an insured's age changes. In most life insurance contracts this is the date midway between the insured's
birthdays. The date of age change depends on whether the insurer uses a age nearest birthday or age last birthday calculation for determining premium
rates. |
| Ages below and above which an insurance company will not accept applications or renew policies. |
| An age calculation based on a person's nearest birth date for premium rate determinations. If the person's birth date is
within six months, they are considered the next age. |
| An authorized representative of an insurance company who sells and services insurance contracts. |
| A mathematical measurement of the amount of return expected from an investment. For example, an alpha of 1.20 indicates that
a stock is projected to rise 20% in a year when the return on the market and stock's beta are both zero. Generally, a low priced investment in relation to
its alpha is considered a good choice because of its undervalued status. |
| Document changing the provisions of an insurance contract signed jointly by the insurer and the policyholder. |
| Individual statements, providing specific policy information and values, which are sent to policyowners on each contract
anniversary. |
| A type of variable annuity death benefit available in Preference Plus Select that can protect purchase payments and
earnings by locking in performance gains each year on the contract anniversary. The key benefit is that it can provide a safety net against market
downturns. |
| See Yearly Renewable Term. |
| The person(s) on whose life the income payments are based. The contract owner decides who the annuitant(s) will be. |
| To begin a series of payments from an annuity. This term also refers to the settlement of a life insurance policy under the
contract's annuity options. |
| A tax-deferred contract that can provide an income for a specified time period, such as a number of years or for life. There
are two types of annuities: deferred annuities, which allow you to grow your assets tax deferred and convert your account balance to income payments at a
later date, and immediate annuities, which generally allow you to receive income payments right away. |
| The date when your annuity income payments begin. This date usually appears in your annuity contract. You may be able to
change this date, with limitations, before you reach the annuity or maturity date. |
| The person applying for the insurance policy. The applicant is not necessarily the owner or the insured. |
| A statement of information made by someone applying for life insurance. The information gathered helps the life insurance
company assess whether the risk presented by the applicant is acceptable to underwriters. |
| A supplement to the application which documents that the non-guaranteed elements of the contract have been disclosed to the
applicant during the sales process. |
| Signifies the legal acceptance of forms by a state when policy information is filed; Signifies the insurer's acceptance of
risks as set forth in an application for insurance (as originally made or modified by the insurer); or Signifies the acceptance of a request from an
applicant or policy holder for new insurance, reinstatement of a terminated policy, a policy loan, or other request. |
| A financial strategy for investing money into various asset classes - such as stocks, bonds and cash - based upon your
financial goals, risk tolerance and time horizon. Asset allocation has two main advantages: it can help increase investment returns and reduce risk. |
| Refers to the categorization of an asset. Representative asset classes include, equities, bonds, commodities, etc. |
| The legal transfer of one person's interest in an insurance policy to another person. |
| The insured's age on a given date. Attained age is one of the factors life insurance companies use to determine the insured's
premiums. Some insurance companies round up the insured's age to the next age six months after each birthday. |
| Information from a proposed insured's physician covering medical history and results of medical examinations. It is used to
determine the appropriate underwriting classification for the proposed insured. |
| Permission from the policy owner or proposed insured which allows release of information to a named party. |
| The extra hazard of death or injury resulting from participation in aeronautics, usually as other than a passenger. This
generally requires an extra premium rating or waiver of certain coverage benefits. |
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