Face Amount to Free Look Definitions
- Face Amount
- The specific death benefit shown in the policy that is to be paid to
the beneficiary(ies) at the time of the death of the insured.
- Fiduciary
- A person, such as an executor of an estate, attorney or trustee to
whom property or power is entrusted for the benefit of another.
- Flat Extra Premium
- An amount of money charged in addition to the basic policy premium
that reflects an increased risk due to hazardous activities or
temporary conditions of health or behavior.
- Free Look
- A stated period of time in which the insured can examine the policy
to decide whether or not to keep the policy with no financial
obligation incurred. The stated period of time is usually 10 days
during which time the insured may return the policy for a full
refund of any monies paid for the policy.
Life Insurance
No Exam
Life Insurance
Business-Related
Life Insurance
Permanent
Life Insurance
