The Composition

of a Policy

Security Benefit Life Insurance Company

Products: Education, Employer and Individual Retirement

Funds

Company Product Funds

Policy Acquisition During this phase, general information acquired from the client and basic policy information.

Policy Servicing During the meeting, the primary owner of the account is established as well as the other options that will be associated with the account.◦ Roles

◦ Base Coverage

◦Riders

Premium Often times when creating a new policy a client will use an initial investment or the product will require a minimum investment, often referred to as the initial payment.

Allocations

Variable

Fixed

Company Product Funds

Policy Creation Information collected from the client, by the servicing agent is submitted for policy creation.

Free look

Issue

Policy Administration Systematic Billing and Payments

Policy changes

Other aspects of policy administration

Policy Termination Anniversary

Disbursement◦ Full and Partial Withdrawal

◦ Death

ReviewWhat is a Fixed Annuity?a. A horse of a different color.b. A predetermined fixed return on an investmentc. A type of foot stool for the living room

When does a beneficiary received a Death Benefit?d. At birthe. On their 30th birthdayf. After the death of a policy owner

What is it called when the policy is cashed out?g. Disbursementh. Paydayi. Winning the lottery

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