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Life Insurance study class TYPES OF INSURANCE | #LifeInsurance


 ok teammates this is our life insurance study video because our goal is to get 250 licensed people 250 licensed people this year.

 now let me set the tone now we are in the financial services industry you are getting a life insurance license so as not to make a little bit of money and selling some policies in the financial services industry is enough for all of us to become multimillionaires the bills of life insurance alone there's.




over one hundred and forty seven billion dollars annually 147 million haffleys plus zero 147 billion dollars annually in our business insurance agents or people first get their baggage in our license and then give you their securities license.


so the whole goal this is just a foundation in the investment industry Invesco which is our favorite money manager they have over nine hundred billion dollars under management nine hundred billion dollars imagine if you made 3% for that money upfront and got it '1% every year for the rest of your life.



 imagine loyalty whoever is one of our money managers will have two thousand to be a tree two trillion dollars under management if you were given a percentage of that one percent every year for the rest of your life this is life insurance this it's just that's not the whole way the best in the industry are just two companies in the financial services industry you know it by coincidence you see our life changing zeros just one thousand two hundred thousand dollars.




so pay attention take this series go ahead and take your license we do not know where it will end as it will evolve in twenty years but it will entail a lot of money for us if you have a bad test right now so let me continue, so this is how I just want to set the tone oh why we're going through this because you don't have to put in some energy.



 in this process to learn how much you like your father's work there is no way there is no way around it is very very very very very very important because in our work you have to give light tends to make you pay you know let's throw it away go to chapter one life insurance is two types of life insurance.



 and the first is that you need a master and there was no back for term life insurance just as the name suggests its a temporary laugh for the time period so temporary time period now we know we are not getting a degree in life insurance teammates we just want



 know the material to the point where we can get the right answer get the right answer on the test so much of this is just a word association, so when you see the word a term that would have been temporary in less than ten out of ten if you think that hands are turned nine times out of ten choose your handwriting so don't try to figure out why those are wrong and go to the next question tournament temporarily and last for a period of time don't have any cash or dividend value like that and you are only covered for that period 



now we have an afternoon because we have come up with our notes to help people study and the acronym for learning different types of life insurance Turnham is basically done so the D is for decreasing I is for increasing the a is for annual term renewable or RT and this is real stuff 



for teammates now if if maybe when a policy says to decrease, it makes sense that the policy the face value of what you come in because it will decrease if the policy name is increasing it is logical that the renewable annual term will increase is that a reason for the meaning in the face it is good what you come for the state level 



but you renew it annually that's why you're renewable and therefore tier duration has remained the same for the entire term to cover for ten years of twenty years and thirty years with a policy which is what we offer here which is among the best life insurance values ​​now decreasing for an important part of going through and testing is knowing if their material or if they want to know what it is that the person who wrote the test what they want to do that you know they want to make sure you know that raising the term is more commonly used suitable when a client wants life insurance to cover a mortgage


 to cover their mortgage or some type of loan, so if the policies if the question says something about jacking G they don't want the policy covers the mortgage,the loan or the banknote, whatever the elegant way to get a loan, use crap known because the decreasing term increase is very often associated with the return of premium policies, which means that you will get not just the nominal amount you have , but it will increase by the amount you pay more or less on return or



 premium policies and your renewal return can be complicated because what you cover remains the same, but the premium increases every year as you renewamount you pay more or less than the return or premium policies and your renewal return can be complicated because what you cover remains the same, but the premium increases every year as you renewamount you pay more or less than the return or premium policies and your renewal return can be complicated because what you cover remains the same, but the premium increases every year as you renew



 but even if the premium increases every year when you do it for the test he is worried and your new yield is considered a level term life insurance, so don't let that girl your car be a breakthrough in level, you have a completely different type of policy but angular no return on test is considered that they will return because there is enough space remains the same level of term insurance which gradually eliminates them stays level but in a test they want to make sure you know that a term level insures that it is the most expensive



 their first year is the most expensive this first year and you were a normal term is the cheapest the first year but that doesn't mean your trunk is also worth better because over a 20 year period if you get an annual lifespan and a premium increases every year for 20 years is no better value than 'Your total cost over 220 in periods will stay the same for 20 years than the end at the end five times more over time even though the first extra year now this is a term life insurance teammate this is all you need to know if you know it back was before you had to give it up for testing right away.



 everytime yes what ever they happily learn about term life insurance is what if it is a term so if i have a ten year file for a 20 year policy 30 possible what happened to the 10 year unit of insurance on the life or it will be renewable or it will be convertible or both, so we must also say that we must help to remember that if you have a policy on renewables it means that you have from turn to turn so when I say renewable you say term it just goes together every time renewables run the time we knew it would transform.





 the term a new book turn the term then applying they have a renewal return of 20 years if they buy it at 40 when they turn on 60 renewal is guaranteed for another term now convertible is term 2 per shift on or provide or for permanent insurance, then convertible is precisely the turnip that travels by time component so that I just testing me I hosted you what kind of shift calls someone who does not build cash value for a type of policy that does not feel cash value and would be a convert or a return because the shift policy produces no cash value but ultimately when converting to a permanent policy it creates cash value these are the two ways or the only way renewable and convertible life and shift life insurance differ l 'from each other.





but they have two things they have in common which are the same renewable and convertible policies both are guaranteed and guaranteed shareability insurability means regardless of your health you can get another life insurance policy so you can get cancer stroke heart disease kidney failure rain tuna and diabetes all the concept you don't have regardless of the questions, you can renew your policy and you can convert the policy the other thing is that another feature is ahead of the premium increase based on the age of the team you hardly get an illness you would or convert it so if you get a 20 year policy that you buy 20 years later when you turn 15




 when you renew it the award will be based on your age and 50 years old he will be tired thanks to both of them they have in common and this is how they are different if you write this every day and review these ten minutes a day you will learn this material and you will get the your license is much better study 20 minutes every day in one day for three hours let me repeat it 20 to 30 minutes every day for 30 days or a week two weeks three weeks is infinitely better in two or three hours one day do as I did in school well i did not study at all and i will stimulate myself the night before and then it may not work with this because there is enough material you need to watch it every day, 




alright, term life insurance and what's better if they rewrite these notes every day and that's even better because if you rewrite it and as you write it it's non-stick every day in a week you have this shit that was a force this is insurance on the timeline the next kind of




 life insurance is whole life insurance or life insurance is whole life insurance is permanent so term is temporary and whole life is permanent so we're so how long there are generally some moving parts , so Hawaii is considered permanent, has a cash value and therefore out of the policy has a level premium of up to 100 years our acronym for Hope Life Insurance is whales the ELS the W is for a traditional straight life policy. straight all these three terms are



 interchangeable if they are only quick in the test this is Jack who has a straight policy or has a traditional policy my thing took a pre like bone is all is that same thing a traditional straight line life and prayer policy all as all have the same teachers simply have no premium now until age 100 will all be cash value after three or five years and no drop in cash value will equal face them at age 100 die if a person buys a hold of that policy they're paying for two things and they only give them one




 lifelong employee in Japan for the nominal amount over there they cover four and are paying for a cash value that is not human that is out of the policy death your family only gives the insurance company for the nominal amount withholds the your cash, so you pay for two things when you take a single man the other type of whole life insurance is an endowment policy and endowment policy builds cash values ​​faster than a traditional life is the simplest question on the




 test why the first endowment letter is eat and the first expensive endowment letter is eat and that's all you need to know for a lot of endowment is and the first kind of expensive isn't him so if the question says a version I'm Jack wants to raise money to build a new roof on the church you can afford to pay more when you see more is unlimited Jack wants to save money for every time you want to pay more and the answer is an endowment that Jack wants to do whatever you get a raising money scholarship for a new roof on church account cash man you can't pre-retire any opinion on the version or more then or the most expensive in which the hamsters will be down you may have other things like sixty five 1015 don't worry of all the other things they had,the keyword is expensive and the endowment always goes together choose you will do it right every time then that's the name hey unlimited penny policy you only pay for a certain period of time but still cover your 100 years in the insurance world i have the name complete Christopher or microderm that's all it is



 left my mother gave me, so study purposes compensation policy amendment has full name and full name is hemant pay is 1030 like 20p sir and pnina 65 all go together pay limited one tenth to like 20p live paid up to 65 Tenpenny like 20p as the age of 5 is a bad thing if you put it all together every time you will do it right every time a man thinks about the customer for 10 seconds you answer 65 when you read the question and see the word and then they automatically pay you as if you see some



 question the answer will be limited what always goes together see all four names together if you don't understand well every time once again teammates we are working beer in a company in their richest most opponents obviously in the money industry have all the money we build a business there'Not taking it too lightly we should take this damn next limited benefit the limited benefit only pays for certain causes like a cancer policy or for certain causes an example would be a cancer policy, finally you have a single premium, we know that it is one to one the premium policy has a premium with theonly policy that invoices immediate cash value and because it creates immediate cash value because you have made a lump sum payment r12 and then if you call and call the snake farm agent and tell them I understand just 15,000 will play with the their number come give us their $ 15,000 which in my opinion would be terrible because you can instead of giving them 15,000 give them a hundred dollars and get a 20 year shift the fish is the $ 14,900 third year and that's what a million dollars.900 third year and I'm what a million dollars.900 third year and I'm what a million dollars.




 but that all another encounter get our whole money insurance company those leaders know we better go now I said if we just mix money when it comes to a trillion we'll be right there with singing a prize build instant cash value one piece sum payment is fine for life we ​​need to know back and forth next type of policy is family policy on test they have two different types of policy



 you have a family maintenance policy and you have a family income family maintenance policy and family income now this we have looked at everything that would transform life insurance this is it when you know aboutwhole life insurance we got to know those two back and forth that the foundation has no material if you don't I don't know these two when they start putting them together like this pop combo I'm explaining to you you'll guess you gotta know a turn like a whole linebacker for so if you can add them and they give them these other tons of security you will be a good family party for dancers you have family support and you have family income they are combining two types of life insurance our life maintenance policy




 family combines whole life insurance and Turner family income policy available combines his life insurance and term decrease it is easy to give you a pass on a test because if I am keeping something on keep it level if I am keeping something on keep it level so when you read the question and they say 'I just got a family support policy your hand should come off the desk start spinning this you will know it's level choose the right answer go to the next question the



 family maintenance is level if I am keeping something I am keeping it level if I can or something I am keeping it level so there are only two options and you know one automatically knows the other because maintenance is level so it decreases if the income must be decreasing it's that simple let me give you a real life scenario that Jack and Jill have a policy



 Jack is dead just don't get a lump sum and a monthly allowance for 20 years a lump sum of a monthly allowance for 20 years now so our family support policy is always 20 years proof of sure man listen Jack and Jill got a family income policy Jack died Jill 'She'll get a lump sum and get a monthly check for the number of years remaining she has left out of those 20 years Riley you have to subtract the number of years she already had the policies they already had the policy so I'm Jack Jill will get a lump sum let's say they had a policy for four years she will get a check for 16 years your Jack is dead her family and her partner Jack Valliant for nine years she will get our song and I will check for eleven but the only thing you have to do mates team is being able to subtract from 20 and




 do it right every time you have to do any kind of calculation, right? t answer family income family always 20 years instead some so when you read the question in this sector he had the policy at seven years and six months how much does he count on where he earns an income from well seven years six months from twenty ago thirteen years and six months so that's what would get dead stuff for ten minutes all life that's family income the next type of policy is universal life insurance universal life insurance is even more complicated a universal life insurance policy has two components as well as a 'universal life insurance probably has two components it has a life insurance component as a cash value component to it the insurance component of its universal life is any word or term before it allowed us for a year and the premium



 increase their cash value on a cash account in a 

policy they work similar to the cash value in an entire life on C so now when we went to discuss term life insurance the term is synonymous with life whole temporary is synonymous with universal life permanent is synonymous with the word flexible when it says flexible premium the answer is universal life you have to read the rest of the questions flex for adjustable premium life so let's say and a policy for life




 if it offers cash value and you can borrow the policy in a universe for life that has had fantasy and find a different way to save by borrowing your money and they call it partial withdrawals or partial redemptions so don't 'take in loan the money make a partial withdrawal or partial surrender as long as I can tell you it works exactly the same way it reduces the face behind much of the omnia or whatever you do and if you repay you have a policy to go to deadlines get insurance on universal life a form return on the cash account the cost of insurance you get the policy at 30 when you get 70 the cost of insurance increases every year when the cost ofinsurance increases you can bet they decrease and give zero deposits no lapse life are three more features I guess as long as universal life is on your text universal life policy has benefits until death has a and B a is just the nominal amount o Level B is both the nominal amount



 that cash B is both faith and face of harm no one face only B is both on a test instead of judging G or Diopremio flexible life adjustable because it has a death benefit which is the natural what kind of positive had had a universal life on death policy hey just like that if he said he has a fifth grandpa they have a death benefit the cash value increases in reason but a little bit eventually hit the universe my policy is definitely because the nominal amount is increasing and they can evaluate the increase, which means you don't have the beneficiaries don't get both the target premium premium and the universal life the policy has a flexible premium policy,hence the cost of the insurance can the cost ofinsurance is not so much that you only have to pay if there is enough cash value to cover the cost you can pay more or less or nothing except the insurance company knows how much you have to think they keep it applied that's what our premium is there 'amount you have to pay and prevent the policy from peaking or keep it in effect yes and then unless a feature you need to know is the insurance corridor the insurance corridor saves the tax benefits over a lifetime and a universal life policy as the cost of insurance increases, the insurance company can automatically increase your death benefit by doing so they are taking a larger portion of your premium to cover the cost ofinsurance because if the premiums exceed the premiums paid you lose a tax advantage,so without having to remember all the why or why it works this way you can write on a test




 every time for confirmation I want to say why you know so an insurance corridor the emissions of the corridor are not comfortable share the insurance corridors on a test to save tax advantages if first there are many advantages the only ok this is universal life write these notes every day 20 minutes 30 minutes maximum and every day for a week you do not receive this new definitive test for 30 minutes or the next type of the next type of policy on the test is to make sure you do not miss anything you have a joint in a joint and a survived so next is life in common life in common and you have a joint and a survivor is a very simple concept but on a test that can make it complicated thelife insurance pays the death of the first




 person walks to death first a joint policy and that of the survivors will pay on the death of the second person or a second on the death Jack and Jill have a joint life policy Jack dot geo will receive the death benefit she 'ain't covered or more stop again Jackie and she has a common and survival policy Jack dot geo won't get anything geo is dead and boy gets up now i will try it looks simple but in the test they don't seem so complicated you can imagine that everyone talks, but that's how you choose it every time they say that a version of Bob and Mike are business partners who have aactivities they want to pause to cover the life of both of them blah blah blah one of them passed the keyword you know it will be this is the kind of holiday that asks for a keyword and both are both when you see the word both is one of these awaken answers want Jack and treat another good luck a boat yes it does not mean you know any of the thank you joints, you just have to understand these first two in the background, but both I was securing the lives of two people who paid the their debts since one later we start talking about annuities that you have merged and merged andother good luck a boat yes it doesn't mean you know any of the thank you joints you just have to understand these first two in the background but both I was securing the lives of two people paying their dues since one later we start talking about rents that you have united and united eother good luck a boat yes it doesn't mean you know any of the thank you joints you just have to understand these first two in the background but both I was securing the lives of two people paying their dues since one later we start talking about rents that you have united and united e




 annuity for survivors same concept except that the income stops at the death of the first or interrupts the death of the second but as two people involved in the first or second you can get it right whenever the next one is interesting just get a full life policy has a guaranteed cash value a hint that you are sensitive policy the cash value can vary based on the company's performance also you can have adjustable life adjustable life you can change three things P see people you can change the type of plan you can change the coverage period and you can change the premium period you cannot increase the policy you cannot change theinsurer is a third party you want to test often so you can only change the type of coverage period of the plan or a penny for the premium period or a graded and venerable life and life benefit modifier I'll be all in chapter one or 90% of all you need to know that's enough, alright, let's talk payer benefit and i pay your benefit if you pay your or parent or guardian a guardian they're paying back the policy for the child, the dials have become is able to waive to the prize until the child becomes an adult.the dials have become is able to forgo the prize until the child becomes an adult.the dials have become is able to forgo the prize until the child becomes an adult.the dials have become is able to forgo the prize until the child becomes an adult.the dials have become is able to forgo the prize until the child becomes an adult.the dials have become is able to forgo the prize until the child becomes an adult.the dials have become is able to forgo the prize until the child becomes an adult.



 so pay your benefit don't increase the business and if you give up the premium the youth life is a mom's life insurance , and the modified life insurance has a premium increase as level to 100 so you have an increase of the premium and for three or five years and as a level at 100 so modified it has an increase as you do well on the test every time the first two measures are changed its information stands for a




 okay teammates this is our life insurance study video because our goal is to get 250 license people 250 people licensed this year now let me set the tone now we're in the financial services business you are getting a life insurance license not to make a little bit of money and sell a few policies in the financial services business is enough business going on for all of us become a multi-millionaire the life insurance bills alone there's over one hundred and forty seven billion dollars every year 147 millions of haffley more zeroes 147 billion dollars every year in our business the insurance agents or people get their luggage in our license first and then they give you their


 securities license so the whole goal this is just a foundation in the investment business Invesco which is our money manager of choice they have over nine hundred billion dollars under management nine hundred billion dollars imagine if you made 3% for that money in front and got 1% of it every year for the rest of your life imagine fidelity who is one of our money managers will they have two thousand to be a tree two trillion dollars under management managing if you was given a percentage of that one percent every year for the rest of your life this is life insurance this is just this is not the wholeindustry better way this is just two companies in the financial service business you know this coincidentally you see our own zeros that's gonna change our life right thousand two hundred thousand dollar grounds so pay attention take this series go ahead and get your license we don't know where this is going to go how




 this is going to evolve twenty years from now but it's gonna involve a lot of money for us if you have bad this test right now so let me keep going so this is so I just want to kind of set the tone oh why are we going through this because you don't have to put some energy into this process to learn how do you like your father's work there's no way there's not a way around it it's very very very very very very important because in our business you got to give light tends to get paid you know let's throw it off go on to chapter one life insurance is two types of life insurance and the first one is you need a master and no back wasn't for is term life insurance term life insurance just like the name implies is temporary laughs for the term period of time so temporary period of time now we know we're not getting a degree in life insurance teammates we just want to know the material to the point where we can get the answer right get the right answer on the test so a lot of this is just word association so when you see the word a term that else was gonna be temporary down ten out of ten if you think temporary the hands is gonna be turned nine times out of ten pick your writing so don't try to figure out why those ones are wrong and go to the next question tournament temporary and last for a period of time it doesn't have any cash value or dividend like thatt have any cash value or dividend like thatt have any cash value or dividend like thatt have any cash value or dividend like thatt have any cash value or dividend like that




 and you only covered for during that period now we have an afternoon because we came up with our own notes to help people study and the acronym to learn a different types of Turnham life insurance is done deep down so the D stands for decreasing the I stands for increasing the a stands for annual renewable term or a RT and this is real stuff for teammates now if if maybe when a policy says decreasing then it's just logical that the policy the face value what you come for is going to decrease if the name of the policy is increasing is logical that is going to increase annual renewable term is that a motive for meaning in face amount well what you come for state level but you renew it annually that's why you're renewable and then level term stayed the same for the whole period at your cover for ten years of twenty years thirty years on a policy that's what we offer here which is among the best value in life insurance now decreasing term for what a big part of pass and test is knowing what if their material or they want to know what is it that the person who wrote the test what do they want to make that you know they want to make sure you know that increase the term is most commonly used the most suitable when a client wants life insurance to cover a mortgage to cover their mortgage or some type of loan so if the policies if the question says something about jacking G don't want the policy to cover the mortgage or loan or bank note whatever kind of fancy way to come up with loan they use crap known as thes what we offer here which is among the best value in life insurance now decreasing term for what a big part of pass and test is knowing what if their material or they want to know what is it that the person who wrote the test what do they want to make that you know they want to make sure you know that increase the term is most commonly used the most suitable when a client wants life insurance to cover asuitable when a client wants life insurance to cover asuitable when a client wants life insurance to cover a




 mortgage to cover their mortgage or some type of loan so if the policies if the question says something about jacking G don't want the policy to cover the mortgage or loan or bank note whatever kind of fancy way to come up with loan they use crap known as thes what we offer here which is among the best value in life insurance now decreasing term for what a big part of pass and test is knowing what if their material or they want to know what is it that the person who wrote the test what do they want to make that you know they want to make sure you know that increase the term is most commonly used the most suitable when a client wants life insurance to cover a mortgage to cover their mortgage or some type of loan so if the policies if the question says something about jacking G don't want the policy to cover the mortgage or loan or bank note whatever kind of fancy way to come up with loan they use crap known as thet want the policy to cover the mortgage or loan or bank note whatever kind of fancy way to come up with loan they use crap known as thet want the policy to cover the mortgage or loan or bank note whatever kind of fancy way to come up with loan they use crap known as thet want the policy to cover the mortgage or loan or bank note whatever kind of fancy way to come up with loan they use crap known as thet want the policy to cover the mortgage or loan or bank note whatever kind of fancy way to come up with loan they use crap known as thet want the policy to cover the mortgage or loan or bank note whatever kind of fancy way to come up with loan they use crap known as thet want the policy to cover the mortgage or loan or bank note whatever kind of fancy way to come up with loan they use crap known as the




 decreasing term increase in term is most often associated with return of premium policies meaning you're going to get not just the face amount that you have but it's gonna increase by the amount of pretty much you pay return or premium policies and your renewal return are can be tricky because what you cover for stay the same but the premium goes up every year when you renew it but even though the premium goes up every year when you do it for the test is concerned and your new return is considered level term life insurance so don't




 let that chick your car be a level turn have a different type of policy altogether but angular no return on the test is considered they'll return because there's space enough stays the same level term insurance that phase them out stays level but on a test they want to make sure that you know that a level term assure is the most expensive their first year is the most expensive this first year and you were a normal term it is the cheapest the first year but that does not mean even your trunk has a better value because over a 20 year period if you get an annual time and a premium goes up every year for 20 years it is not a better value that's gonna stay the same over 20 years your total cost over 220 in periods than the end at the end five times more over time even though the first year higher now this is term life insurance teammate this is all you need to know if you know this back was before you should give it right under test every time yeah what happily ever thing they learn about term life insurance it's what happens if it a term so if I got a ten-year file for 20 year policy 30 possible what happened at the unit of 10 years term life insurance is either gonna be renewable or it's gonna be convertible or both so we gotta either though saying for us to have to help us remember that if you have a renewable policy that means you have from turn-to-turn so when I say renewable you say term term it just goes together every time renewables turn the time we knew it would turn the term a new book turn the term so applying have a 20-year renewal return if they buy it at 40 when they turn on 60 is guaranteed to renew it for another term now convertible is term 2 per turn upon or furnish or for permanent insurance so convertible is turnip own traveling per time component so that I only testing meconvertible is turnip own traveling per time component so that I only testing meconvertible is turnip own traveling per time component so that I only testing me





 house you what type of turn calls someone who does not build cash value to a type of policy that doesn't feel cash value and that would be a convert or return because the turn policy does not do cash value but at the end when it converts to a permanent policy it does build cash value these are the two ways or the one way that renewable and convertible life and turn life insurance differ from one another but





 they have two things that they have in common that they are the same they both renewable and convertible policies they both are guaranteed and shareability guaranteed insurability means regardless of your health you can get another life insurance policy so you can have a cancer stroke heart disease kidney failure raining tuna and diabetes all the concept it doesn't matter no questions asked you can renew your policy and you can convert the policy the other thing is another feature is ahead of the increase in premium based on a team age attain a disease you hardly you would do it or convert it so if you get a 20-year policy you buy 20 years later when you turn 15 when you renew it the premium gonna be based on your age and 50 which is gonna be tired thank both of those they have in common and this is worth how they different if you write this down every day and review this ten minutes a day you will learn this material and get your license it is so much better to study 20 minutes every day in one day for three hours let me say that again 20 to 30 minutes every dayday in one day for three hours let me say that again 20 to 30 minutes every dayday in one day for three hours let me say that again 20 to 30 minutes every day



 for 30 days or one week two weeks three weeks is infinitely better in two or three hours one day do like I did in school well I didn't study at all and I will cram the night before and then that may not work with this because there's enough material you need to look at it some every day all right term life insurance and what's even better if they rewrite these notes every day and that's even better because if you rewrite it and as you're writing it it's nonstick every day in a week you have this stuff that was a force this is timeline insurance the next type of life insurance is whole life insurance or life insurance is whole life insurance is permanent so term is temporary and whole life is permanent so we're so how long has generally got a few moving parts to it so Hawaii is considered permanent it be over cash value and so out of the policy it has a level premium to age 100 our acronym for hope life insurance is whales the ELS the W is for a traditional straight leg pure life policy all those three terms are interchangeable if they're only quick on the test this is Jack got a straight line policy or he got a traditional my policy what he got a pre like bone it's all it is that same thing a straight line traditional life and prayer life policy all whatever like all have the same teachersre only quick on the test this is Jack got a straight line policy or he got a traditional my policy what he got a pre like bone it's all it is that same thing a straight line traditional life and prayer life policy all whatever like all have the same teachersre only quick on the test this is Jack got a straight line policy or he got a traditional my policy what he got a pre like bone it's all it is that same thing a straight line traditional life and prayer life policy all whatever like all have the same teachers





 just don't have any now premium to age 100 it's gonna be all cash value after three to five years and it's not in down in the cash value is gonna be equal to face of them at age 100 you die if a person buys a hold of that policy they're paying for two things and they only give it one dependent for whole life in Japan for the face amount over there cover four and they're paying for a cash value that's don't human that's out of the policy it death your family only gives the face amount insurance company keeps your cash back so you paying for two things when you only get one man the other type of whole life insurance is an endowment policy and the endowment policy builds cash values faster than a traditional life is easiest question on the test because the first letter of endowment is eat and the first letter of expensive is eat and that's all you gotta know for a lot of endowment is e the first sort of expensive isn't he so if the question says any



 version I'm Jack want to raise money to build a new roof on the church you can afford to pay more when you see more is unbounded Jack wants to save money for every time you're gonna flow to pay more and answer is endowment Jack want to do anything get on a raise of money scholarship for a new roof on the church bill cash man you fail to pre-retirement any version opinion or more then or the most expensive the hamsters gonna be in down you might have some other stuff like sixty-five 1015 don't worry about all the other stuff they had the keyword is expensive and endowment always goes together pick that you'll get it right every time then this is the name of it Hey unlimited penny policy you only pay for a certain period of time but you still cover to you turn 100 in the insurance world I have full name Christopher or microderm that's all remaining my mother gave me so I study purposes amendment pay policy has a full name and the full name is hemant pay is 1030 like 20p ladies and pnina 65 they all go together limited pay a tenth a like 20p live paid up to 65 Tenpenny like 20p like the age of 5 is a negative thing if you put it all together every time you will get it right every time you a man tos all remaining my mother gave me so I study purposes amendment pay policy has a full name and the full name is hemant pay is 1030 like 20p ladies and pnina 65 they all go together limited pay a tenth a like 20p live paid up to 65 Tenpenny like 20p like the age of 5 is a negative thing if you put it all together every time you will get it right every time you a man tos all remaining my mother gave me so I study purposes amendment pay policy has a full name and the full name is hemant pay is 1030 like 20p ladies and pnina 65 they all go together limited pay a tenth a like 20p live paid up to 65 Tenpenny like 20p like the age of 5 is a negative thing if you put it all together every time you will get it right every time you a man to




 think about the customer to 10 seconds answer 65 when you read the question and you see the word and then they pay you automatically like if you see any question the answer is going to be limited thing always go together you see all four name together if you don't get it right every time once again teammates we are working on beer on a business in their richest most opposing obviously in the money industry they have all the money we build a business there it's not taking this too lightly we ought to get this damn next limited benefit limited benefit only pays for certain certain causes like a cancer policy or certain certain causes example would be a cancer policy then lastly you got single premium we know single is one a single premium policy has one premium with the only policy that bills immediate cash value and why does it build immediate cash value because you made one lump sum payment r12 and so if you call up and you call it the snake farm agent and tell them hey I got 15,000 right they're gonna play with their number come over give us their own $15,000 which a my opinion would be terrible because you can stead of giving them 15,000 you give them a hundred dollars and get a 20-year turn fish are the $14,900 third year and and they're what a million dollars but that's a whole another meeting achieve all our monetary insurance company those leaders know know that best go got now I said if we just mix it up money when they get to a trillion we gonna be right there with I sing a premium build immediate cash value one lump sum payment all right this whole life we gotta know it backwards and forwards the next type of policy is a family policy on the test they've got two different types of family policies you got a family maintenanceve got two different types of family policies you got a family maintenanceve got two different types of family policies you got a family maintenance





 policy and you've got a family income policy family maintenance and family income now this we went over everything it would turn life insurance this is everything when you know about whole life insurance we got to know those two backward and forward that the foundation out of material if you don't know these two when they start putting them together like this combination pop I'm explaining to you gonna be guessing you need to know a turn like a whole linebacker for so if you can add them and they hand them together these other tons of assurance you'll be a good dancer right family party you have family maintenance and you got family income they are combining two types of life insurance our family maintenance policy combines whole life insurance and available Turner family income policy combines her life insurance and decrease in term it's easy to give you a ride on a test because if I'm maintaining something up keeping it level if I'm maintaining something up keeping it level so when you read the question and they say I've just got a family maintenance policy your hand should come off your desk start touring this gonna know it's level pick the right answer go to the next question family maintenance is level if I'm maintaining something I'm keeping it level if I may or something I'm keeping it level so there's only two options and you know one you automatically know the other because maintenance is level then decreasing if income has gotta be decreasing is that simple let me give you a real-life scenario Jack and Jill have got a family maintenance policy Jack died just don't get a lump sum and a monthly check for 20 years a lump sum of a monthly check for 20 years now so our family maintenance policy is always 20 years on a test for sure man listen Jack and Jill got a family income policy Jack died Jill's gonna get a lump sum and she's gonna get a monthly check for the remaining number of year that she has left on that 20 year Riley you got to subtract the number of years she's had the policies already they had the policy already so I'm Jack Jill's gonna get a lump sum let's say they had a policy for four years she's gonna get a check for 16 years your Jack died her family and her partner Jack Valliant nine years she's gonna get our song and I'm gonna check for eleven years but only thing you gotta do teammates is be able to subtract from 20 and get it right every time you got to do any math whatsoever didn't you don't answer family income family always 20 years instead some so when you read the question in this area had




 the policy at seven years and six months how much does she count on where she get an income from well seven years six months from twenty is thirteen years and six months so that's what she would get dead stuff for ten minutes whole life that's family income the next type of policy is universal life insurance universal life insurance is even more tricky a universal life insurance policy has two components as well a universal life insurance probably have two component it have a life insurance component as a cash value component to it the insurance component to it universal life is any word or term earlier it allowed us for one year and in premium goes up they cash value at a cash account in a universal insurance policy work similar to the cash value in a whole life on C so now when we went to discussing term life insurance term is synonymous with temporary whole life is synonymous with permanent universal life is synonymous with the word flexible when it says flexible premium the answer is universal life you need to read the rest of the questions flex for premium adjustable lifesolet's say and a whole life policy if deals cash value and you can borrow on the policy in a universe for life that he got fancy and come up with different way to save borrowing your money and they call it partial withdrawals or partial



 surrenders so you don't borrow the money you do a partial withdrawal or partial surrender as long as I can tell you that works exactly the same way it reduces your face them out behind much of omnia or whatever you would do and if you cash back you have a go policy lapses get universal life insurance a module return on cash account the cost of insurances you get the policy to 30 by the time you get 70 the cost of insurance goes up every year when the cost of insurance goes up you can bet of them go down and give the zero deposits no lapse life is three other I guess features till the universal life is gonna be on your text the universal life policy has to death benefits it has a and B a is face amount only or level B is both face amount and the cash B is both faith is or face of not harming any of face only B is both is that stuff on a test instead of judging G or Godyou flexible premium adjustable life cause it has a death benefit that is the natural what type of positive he had he had a universal life




 policy death benefit hey just like that if he said a got a fifth Grampa they have a death benefit the increases in the cash value in reason but kind of off of the end he hit on the universe my policy we definitely because the face amount is increasing and they can value increasing meaning you didn't beneficiaries don't get both target premium target premium and the universal life policy has a flexible premium policy so the cost of insurance can the cost of insurance isn't that much you have to pay just long as there's enough cash value to cover the cost you can pay more or less or nothing at all but the insurance company knows how much you need to think they keep it enforced that's what our premium is that's the amount you need to pay and keep the policy from maxing or keep it in force yeah and then unless one feature you need to know is corridor of insurance corridor of insurance save the tax advantages in a whole life and a




 universal life policy as the cost of insurance goes up the insurance company can automatically increase your death benefit that way they are taking more of your premium to cover the cost of insurance because if the premiums ever exceed the premiums paid in you lose a tax benefit so without having to remember all of the why to or why it works this way you can either write on a test every time for confirmation I mean because you know so a corridor of insurance corridor emissions are not comfortable shares corridors of insurance on a test to save tax advantages if first a lot of advantages ain't the only okay this is universal life you write down these notes every day 20 minutes 30 minutes max and every day for a week you don't get this new definitive test for 30 minutes or the next type of the next



 type of policy on the test is make sure I don't leave anything out you got a joint in joint and survivor so the next is joint life joint life and you got a joint and survivor it's a very simple concept but on a test that can make it being tricky joint life insurance pays the death of the first person walk first to death a joint and survivor policy is gonna pay in the death of the second person or a second to die Jack and Jill got a joint life policy Jack dot geo gonna get the death benefit she's not covered or more pause again Jackie and she has got a joint and survivor policy Jack dot geo not gonna get anything geo died and the kid gets up now I'm going to test that sounds simple but on the test they don't make that sound so tricky you can you figure everybody talking about but this is how you pick it out every time they're gonna say some version of Bob and Mike are business partners they have a business they want to pause to cover the life of both of them blah




 blah blah one of them passed the keyword that you know it is gonna be this is the type of holiday asking about a keyword and both of these is both when you see the word both it's one of these desta answers they want Jack and deal another good luck a boat yes don't mean you know any of the joints about thank you only got to figure out this first two down second down but both I was ensuring the lives of two people paying their debts as one later on we start talking about annuities you have joint and joint and survivor annuity same concept except the income stop to the death of the first one or stubs the death of the second one but as two people involved in the first or second then you can get it right every time next is interesting just get a whole life policy it has a guaranteed cash value a hint you're sensitive policy the cash value can vary based on the company's performance also you can have adjustable life adjustable life you can change three things P see people you can change the type of plan you can change the coverage period and you can change the premium period you cannot increase the policy you can't change the insurer it's a third you often want to test for that you can only change type of plan coverage period or a premium period penny or a benefits a third you often want to test for that you can only change type of plan coverage period or a premium period penny or a benefits a third you often want to test for that you can only change type of plan coverage period or a premium period penny or a benefit



 modifier life and graded life and venerable I'm going to be everything in Chapter one or a 90% of everything you need to know that's enough that's for sure alright let's talk about payer benefit and I pay your benefit if you pay your or the parent or guardian a custodian they're paying for the policy for the child dials are become is able it will waive the premium until the child becomes an adult so pay your benefit doesn't increase the business and if he waives the premium juvenile life is insurance on the life of a momma .





 and modified modified life insurance has one increase in premium thing as level to 100 so you have one increase in premium and for three or five years and as level to 100 so modified has one increase how you get it right on the test every time the first two measures are modified his info info stands for a move ones just that simple and then the other type is great great advice has several increases in the first photo sent me here then it stays available just like in school is not good to repeat the same grade you got to have more grades get it just my thing and the last one is variable variable life works just like a whole life policy except and a variable life insurance they can't

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