Now you will learn about the provisions, riders, and options that operate within life insurance policies.
Provisions stipulate the rights and obligations of an insurance contract and are fairly universal from one policy to the next.
Riders modify provisions that already exist and are used to increase or decrease policy benefits and premiums.
Options offer insurers and insureds ways to invest or distribute a sum of money available in a life policy. It is essential for you to have a good understanding of the different provisions, riders, and how they apply to life insurance transactions.
现在，您将了解在人寿保险单中运作的条款，附加项目和选项。
条款：规定了保险合同的权利和义务，从一个保单到下一个保单相当普遍。
附加议定书：修改已经存在的条款，用于增加或减少政策利益和保费。
期权：为保险公司和被保险人提供投资或分配人寿保单中可用资金的方式。您必须充分了解不同的条款，乘客以及它们如何适用于人寿保险交易。
TERMS TO KNOW
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Activities of daily living (ADLs) — a person's essential activities that include bathing, dressing, eating, transferring, toileting, continence
Assignment — transfer of rights of policy ownership Contingent beneficiary — a beneficiary who has second claim to the policy proceeds after the death of the insured (usually after the death of the primary beneficiary) NAIC — National Association of Insurance Commissioners, an organization composed of insurance commissioners from all 50 states, the District of Columbia and the 4 U.S. territories, formed to resolve insurance regulatory issues Primary beneficiary — a beneficiary who has the first claim to the policy proceeds after the death of the insured Principal amount — the face value of the policy; the original amount invested before the earnings Trust — an arrangement in which funds or property are held by a person or corporation for the benefits of another person (trust beneficiary) | |