The guillotine is a machine used to execute people by decapitation (chopping off their heads). A guillotine is made of a heavy blade attached to a rack, which moves up and down on a vertical frame. When the rack is let go, it will fall down and the blade will cut the convict's head off.
A national producer number, or NPN, is a tool to protect individual insurance agents and agencies from identity theft and fraudulent representations made to the National Insurance Producer Registry, or NIPR.
Protection from regulationâmost insurance agents (non-securities licensed advisors) make a living from selling life insurance to clients under 55 (usually cash value life) and annuities to clients over 55. For years there were no real regulatory nightmares that caused insurance agents grief. Then came 151A.