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Life Settlement Glossary
- waiver of monthly deduction
- A rider that waives universal life insurance costs if the insured
is determined to be totally disabled under the terms of the policy
- waiver of premium
- A rider that waives the entire premium for a traditional life
insurance policy such as whole life or term.
- Weiss Research rankings
- Formerly an agency that ranked the financial stability of insurance
companies. Now known as The Street.
- wet paper
- A life settlement that takes place during the two year contestable
period of a policy (otherwise know as a "wet paper" transaction. Many
reputable life settlement brokers avoid representing policy owners who
attempt to engage in these transactions.
- Wharton School of Finance
- A respected university that published a 2002 report on the life
settlement industry titled "The Benefits of a Secondary Market For Life
- whole life insurance
- A guaranteed premium permanent life insurance policy that covers
the life of an insured with premiums normally payable for the insured's
lifetime or age 100, whichever occurs sooner.
- A partial surrender of the cash value from a universal life policy.
- The act of an agent or company completing an application for life
- written premiums
- The premiums for insurance applied for by a life insurance agent of
company during a specified time frame.
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