Glossary

11 Articles

What is term life insurance?

Simply put, term life insurance insures your life for a certain "term" (usually between one to thirty years). If you ...

What is the difference between a will and life insurance?

A will is a legal document used to outline the last wishes of the deceased. The will divides assets (usually money an...

How is term life insurance different from whole life insurance?

Right now, we only do term life insurance here at Wysh, not whole, but I'd love to explain why term insurance is a go...

What is a term?

This one's pretty easy. A term is simply the time that an insurance policy is active. So if you have a 5-year term, t...

What is underwriting?

Underwriting sounds complicated, but it's really pretty simple. When you fill out an application for life insurance, ...

What's the difference between a Quote and an Estimate?

Using our free estimator tool, you can precisely determine how much coverage you would need to protect you and your l...

What is a collateral assignment?

In a nutshell, a collateral assignment is when a policy serves as collateral for a loan. The policyholder can tempora...

What is a policy?

An insurance policy is just a legal contract between an insurance company (like us) and the person who's being insure...

What is a beneficiary?

A life insurance beneficiary is the person who receives the proceeds of your policy (usually a lump sum of money know...

What is an irrevocable beneficiary?

An irrevocable beneficiary, in the context of a life insurance policy, is a type of beneficiary designation that come...

What is the wellness rider?

The Wellness Rider, offered at no additional cost, allows us to make Wellness Benefits (goods, products, and/or servi...