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That all work is saved on the system which makes is easily to retrieve
What do you dislike?
Sometimes getting forms can be a little difficult
Recommendations to others considering the product:
Definitely use this product if your in need of Accord forms it makes a world of difference.
What problems are you solving with the product? What benefits have you realized?
Allows my office to have a universal platform for creating accords and saving them
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How are settlement options paid?
The four most common alternative settlement approaches are: the interest option, under which the insurer holds the proceeds and pays interest to the beneficiary until such time as the beneficiary withdraws the principal. The fixed period option, under which the future value of the proceeds is calculated and paid in
Which type of settlement option pays the beneficiary over a specified time frame?
Fixed Period Option With a fixed period settlement, your beneficiary receives payments in equal amounts over a specific period of time. If the beneficiary dies before the time period is over, the remaining balance will pass to a secondary beneficiary.
What is a life insurance settlement option that uses an annuity to pay policy proceeds to the beneficiary for a set number of ye
The fixed-period, or period certain, installment option uses an annuity to pay the policy proceeds to the beneficiary for a certain number of years.
Which life insurance settlement option is considered the default option?
Cash value is used as a single premium to purchase the same amount of coverage as the original policy, but it is now a term policy. “Default Option”: If a policy owner fails to select one of the non forfeiture options when premium payments cease, this option generally goes into effect automatically.
Which of the following settlement options in life insurance is known as straight life?
Correct! The life-income option, also known as straight life, provides the recipient with an income that he or she cannot outlive. It pays the benefit while the beneficiary is alive. However, the payments stop at the beneficiary's death. Interest only is a settlement option.
What are annuity settlement options?
The Annuity Settlement Option allows clients to customize how death benefit proceeds are paid out to beneficiaries. Rather than having the proceeds paid out all at once, clients can choose to distribute some or all of the proceeds to beneficiaries gradually, as annuity payments.
What are the different annuity settlement options?
Annuity payout options include life-only, life with period certain, and joint and survivor. When it comes to retirement savings, a lot of investors want to have it both ways.
What is an annuity automatic settlement option?
Definition: Under a settlement option, the maturity amount entitled to a life insurance policyholder is paid in structured periodic installments (up to a certain stipulated period of time post maturity) instead of a 'lump-sum' payout. Such a payout needs to be intimated to the insurer in advance by the insured.
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