Relier Pairs Risk Chp. 12 pt. 2Version en ligne Risk Chp. 12 pt. 2 par Ryan Brown 1 Nonparticipating Policy 2 Absolute Assignment 3 Collateral Assignment 4 Policy loan provision 5 Class Beneficiary 6 Participating Policy 7 Change-of-plan provision 8 Specific Beneficiary 9 Automatic Premium Loan Provision 10 Irrevocable Beneficiary does not pay dividends. allows policy-owners to exchange their present policies for different contracts. is one that cannot be changed without the beneficiaries consent. the policy holder temporarily assigns a life insurance policy to a creditor as collateral for a loan. Only certain rights are transferred to the creditor to protect its interest, and the policy holder retains the remaining rights. an overdue premium is automatically borrowed from the cash value after the grace period expires, provided the policy has a loan value sufficient to pay the premium. allows the policyholder to borrow the cash value. means that the beneficiary is specifically named and identified. A specific person is not named but is a member of a group designated as beneficiary, such as "children of the insured" all ownership rights in the policy are transferred to a new owner. a policy that pays dividends.
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