Page 5 of 21 Apr 1998 Issue of Corbin Times Tribune in Corbin, Kentucky

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Corbin Times Tribune (Newspaper) - April 21, 1998, Corbin, Kentucky Times Tribune tuesday april 21, 1998business newsroom 528-2464 or 1-800-739-8878page 5 fax 528-9850 email word on life insurance every subject has its own language that May be confusing at first. Insurance is no exception. To help you become a More informed policyholder Here Are some terms to help you better understand you life insurance policy. Accelerated death benefits benefits available in some life insurance policies prior to death. Accidental death Benefit a provision added to a life insurance policy for payment of an additional Benefit if death is caused by an Accident. This provision is often called a double agent an authorized representative of an insurance company who Sells and services insurance contracts. Automatic Premium loan a provision in a life insurance policy that any Premium not paid by the end of the Grace period usually 31 Days will be paid automatically by a policy loan if there is sufficient Cash value. Beneficiary the person or financial instrument e.g., a Trust fund named in the policy As the recipient of insurance Money in the event of the policyholders death. Cash value Cash surrender value the amount available in Cash upon surrender of a policy before it becomes payable upon death or maturity. Dividend an amount of Money returned to the Holder of a is Jamie Norvell participating policy. The Money is a partial refund of the Premium paid. It results from actual mortality interest and expenses that were More favourable than expected when the premiums were set. Flace amount the amount stated on the face of the policy that will be paid in Case of death or at maturity. It does not include dividend additions or additional amounts payable under accidental death or other special provisions. Grace period a period usually 31 Days following each Premium due Date other than the first due Date during which an overdue Premium May be paid. All provisions of the policy remain in Force throughout this period. Insured the person on whose life an insurance policy is issued. Lapsed policy a policy terminated at the end of the Grace period because of non payment of premiums. See non forfeiture values. Non forfeiture values the value of the policy if cancelled either in Cash or in another form of insurance. Also available to the policyholder if required Premium business highlights leaders push ahead with duty free Trade Santiago Chile apr leaders of the Western hemispheres 34 democracies overlooked political and economic uncertainties sunday and forged ahead with a bold plan for hemispheric duty free Trade by 2005. They directed negotiations to begin in september. The talks will Start in Miami and finish in Mexico City. A there in Santiago the ground has been broken for the largest free Trade area in history a chilean president Eduardo Frei told the concluding Summit session. The combined economies total $9 trillion and encompass nearly 800 million people. The assembled leaders at the second Summit of the americas called for specific accomplishments such As standardized customs forms As Early As 2000. Trade deficit soars As japanese sales dive Washington apr americans Trade deficit climbed to a monthly record of $12.1 billion in february As sales to Japan plummeted. The Clinton administration worried about a political backlash from soaring deficits said Japan must do More to restart its Economy and create markets. Asians economic troubles were also blamed for the weakest growth in . Industrial output since the last recession. The Commerce department said the february deficit in goods and services was 4.2 percent higher than a revised $11.6 billion imbalance in january As . Merchandise exports fell to their lowest Point in a year. Group encouraging Blacks to invest new York apr Blacks Are being targeted this week to save invest and secure the future financially while shattering claims that they have less in the Bank and with brokerages than Whites. From monday through Friday nationwide there will be financial seminars online chats and a student essay contest aimed at getting Blacks to invest and save More. On Friday the group organizing the National week of investment is asking Blacks to take part in pay Day by committing $25 or More to Deposit in a Bank or invest in stocks. As of mid april the website of the organizers the coalition of Black investors listed pay Day pledges of More than $13,000. Merrill Lynch opens network in Japan Tokyo apr Merrill Lynch bolstered its workforce in preparation for opening a nationwide network in Japan by welcoming 2,000 new employees a most of them former workers at a failed japanese brokerage. Merrill is leading a push into Japan by Western financial companies to take advantage of new opportunities provided by a big bang financial reforms which began this month. Most of the new recruits at a Day Long induction ceremony in Tokyo saturday were former employees of Yamaichi securities co., Japan a fourth largest brokerage until it collapsed under the weight of bad debts in november. Financial troubles at japanese Banks and brokerages have allowed foreign companies to hire experienced staff and buy real estate at prices far below what they were just a few years ago. Zenith electronics to Lay off 388 workers Chicago apr Zenith electronics corp. Says it will Lay off an additional 388 workers at its suburban Chicago television picture tube Plant As it struggles to restructure its operations. The layoffs will be made on top of 409 Job cuts announced earlier this month at Zenith a Melrose Park Plant and would bring the company a total employment to just under 10,000. Cor estates to compensate women minorities Philadelphia apr Cor estates financial corp. Will hand out nearly $1.5 million to women and minority employees who were discriminated against with Low salaries the labor department said Friday. Cor estates will award $1.1 million in Back pay and $334,115 in raises to 76 women and 66 minority employees said Bernard e. Anderson assistant Secretary of labor for the employment standards administration. The recipients who ranged from clerical workers to a senior vice president were not identified because of Federal privacy Laws. Payments Are not paid. Policy the printed document issued to the policyholder by the company stating the terms of the insurance contract. Policy loan under an insurance policy the amount that can be borrowed at a specified rate of interest from the issuing company by the policyholder who uses the value of the policy As collateral for the loan. In the event the policyholder Dies with debt partially or fully unpaid the insurance company deducts the amount borrowed plus any accumulated interest from the amount payable. Premium the payment or one of the regular periodic payments that a policyholder make to own an insurance policy. Reinstatement the restoration of a lapsed policy. The company requires evidence of insurability and payment of past due premiums plus interest. Rider an amendment to an insurance policy that modifies the policy by expanding or restricting its benefits or excluding certain conditions from coverage. Settlement option one of several ways other than immedi ate payment in a Lump sum in which the insured or beneficiary May choose to have the policy proceeds paid. Term insurance a plan of insurance that covers the insured for a certain period of time the Ter not for his or her entire life. The policy pays death benefits Only if the insured Dies during the term. Underwriting risk classification the process of classifying applicants for insurance by identifying such characteristics As age gender health occupation and hobbies. People with similar characteristics Are grouped together and Are charged a Premium based on the groups level of risk. Waiver of Premium a provi Sion that sets certain conditions under which an insurance policy would be kept in full Force by the company without the payment of premiums. It is used most frequently for those policyholders who become totally and permanently disabled but May be Avail Able in certain other cases. Whole life insurance straight life or permanent life a plan of insurance for life with pret i urns payable for a persons entire life. Jamie Norvell Clu Choc is a Corbin resident and a representative for Northwestern Mutual life �0 i a i m i Tell l i i xxx to i xxx to i xxx w i a meet the candidate Republican Whitley county judge executive Mike Patrick 400 North 10th St. Williamsburg by 40769 paid Tor by the candidate Jailer primary election Jerry f. Taylor . Box 403 Williamsburg by 40769 paid for by the candidate Jailer -1998 primary election Donnie e. Bunch . Box 44 Williamsburg by paid for by the candidate _ Jailer o Jerry Noe 322 devils Creek Corbin by. 40701. Ulm Page a Tor by the candidate court clerk Don Mahan . Box 402 Williamsburg by 40769 paid for by the candidate court clerk i Tom Rains to Box 441 Williamsburg by 40769 paid for by Robert s. Lawson treasurer Constable 2nd District sheriff Jim Brimm 210 Newt Lovitt re. Williamsburg by 40769 paid Tor by the candidate sheriff Steve Schwartz 324 old mud Creek re. Williamsburg by 40769 paid for by Steve Schwartz sheriff Lawrence Hodge 294 Carl Croley re. Williamsburg by 40769 paid Tor by Debra Hodge 1 magistrate 1 Donald w. Elliott magistrate 2nd District for a better Whitley co. Paid for by the candidate 7 we. A a Earl a a boy Martin . Box 23 Emlyn by 40730 paid for by candidate magistrate 4th District elect Eugene Meadors for magistrate 4th District paid for by candidate Republican Laurel county magistrate 6th District Melvin Hill . Box 4 Keavy by 40737 paid for by Melvin Hill magistrate 2nd District Roy Wayne Jenkins 28 Hopewell estates Corbin by 40701 paid Tor by the candidate magistrate 6th District . Smith 317 West Foley re. Corbin by 40701 paid for by the candidate sheriff cd re elect Gary Elliott 350 Sanderlin or Corbin by 40701 paid for by the candidate sheriff primary election a c by Jimmy Mckiddy 69 Ted Ball Road Williamsburg by paid for by the candidate former sheriff of 12 years Floyd Brummett 477 winding Blade re e. Bernstadt by 40729 paid for by the candidate sheriff Gene Hollon incumbent 827 Highway 1023, Lily by. Paid for by the candidate sheriff p Ancil Carter . Box 387 Woodbine by 40771 paid for by Ancil Carter Democrat Whitley county court clerk is Joie Fulton . Box 905 a Siler by 40763 r Quot \ a a Mew paid Tor by Floyd Fulton a a a county clerk Ronnie Faulkner 81 Little Paterson Creek re. Williamsburg by 40769 a info and Dat state representative William a. Jones 1769 Cane Creek re Williamsburg by 40769 Josh Meadors treasurer paid Tor by Campaign to elect William a Jones Republican Knox county magistrate District 1 Larry it. 1, Box 34 Gray by 40734 paid for by Larry a. Woodlee of. 1, Gray by. District 5 magistrate a William i Bill Smith it. #1, Box 31b, Woodbine by. Paid for by the candidate judge executive Garrett d. Hinkle hc73 Box 33 Barbourville by 40906 paid for by Garrett d. Hinkle Jailer Fred Bruner . Box 115 Artemus by 40903 paid Tor by Fred Bruner Democrat Knox county judge executive . J r Gerald k. West . Box 303 Artemus by 40903 paid for by the candidate non partisan 1�o Coroner m Al. Re elected Bowling 1704 n. Main St. London by 40741 paid Tor by de bowing judge executive a Jyi re elect Dennis Karr 130 Clearview or Lily by 40740 paid for by the candidate Whitley Mccreary county Fred f. White we a up candidate for i District judge candidates place your and today to appear every Day in the times Tribune and weekly in the Tri county shopping guide for Only $90 a month. Call 528-2464 or 1-800-739-8878 ask for Jodie

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