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Pearl Insurance Glossary
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| Accelerated Death Benefits |
| A life insurance policy option that provides policy proceeds to insured individuals over their lifetimes, in the event of a terminal illness. This is in lieu of a traditional policy that pays beneficiaries after the insuredÂ’s death. Such benefits kick in if the insured becomes terminally ill, needs extreme medical intervention, or must reside in a nursing home. The payments made while the insured is living are deducted from any death benefits paid to beneficiaries. |
| Accidental Death and Dismemberment |
| Policy or provision in a Disability Income policy that pays a specified amount or a multiple of the weekly disability benefit should the insured die, lose his/her sight, or lose two limbs as the result of an accident. Lesser amount is payable for the loss of one eye, arm, leg, hand, or foot. |
| Affinity Sales |
| Selling insurance through groups such as professional and business associations. |
| Aggregate Limit |
| Usually refers to Liability Insurance and indicates the amount of coverage that the insured has under the contract for a specific period of time, usually the contract period, no matter how many separate accidents may occur. |
| Beneficiary |
| An individual, institution, trustee, or estate which receives, or may become eligible to receive, benefits under a will, insurance policy, retirement plan, annuity, trust, or other contract. |
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| Phone 800.447.4982 Fax 309.688.5444 |
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| 1200 East Glen Avenue, Peoria Heights, IL 61616 |
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