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Life Settlement Glossary

A B C D E F G H I J K L M
N O P Q R S T U V W X Y Z

W

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 contract.
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 Insurance Policies".
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.
withdrawal
A partial surrender of the cash value from a universal life policy.
write
The act of an agent or company completing an application for life insurance.
written premiums
The premiums for insurance applied for by a life insurance agent of company during a specified time frame.

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