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Topic 1 - Lesson 2
Comparison Matrix - 30/30
T1-L2-P30
Comparison Matrix
NOTE: STUDY THIS PAGE WITH CARE |
PRODUCTS --> | Traditional Whole Life | Term | Universal Life | Traditional Variable Life | Variable Universal Life |
Death Benefit | Fixed & Level | Fixed & Level | Adjustable Level or Increasing Options | Varies with Investment Performance | Adjustable Level or Variable Options |
Premiums | Fixed Schedule, Level Amount | Fixed Schedule, Increasing Amount | Flexible Schedule, Flexible Amount | Fixed Schedule, Level Amount | Flexible Schedule, Flexible Amount |
Cash Values | Fixed & Guaranteed | None | Current Interest Rate w/Minimum Guaranteed | Varies with Separate Accounts Performance | Varies with Mutual Funds Performance |
Who Risks Loss | Insurance Co. | Both | Insurance Co. | Policy Owner | Policy Owner |
Mortality Rates | Fixed & Guaranteed | Fixed & Guaranteed | Current w/Guaranteed Maximum | Fixed & Guaranteed | Current w/Guaranteed Maximum |
Regulated As | Insurance | Insurance | Insurance | Insurance & Security | Insurance & Security |
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