Annuitization is - Study guides, Class notes & Summaries

Replacement regulation is designed to protect Policyowners from mirepresentation and loss of benefits All Health Benefit Plans issued after January 1, 2014 must provide Preventative health services Which of these will have the highest monthly payout upon annuitization Straight life Which of the following is included in the entire contract according ti the entire contract provison? Clauses Which of the following is considered to be an alternative to a life settleme...

Arizona Life Insurance Exam Questions and Answers (Latest Update 2023) Verified Answers a whole life policy that provides a choice of dividend options include the following statement about dividends they accrue at a guaranteed rate they are deferred for one year they are not guaranteed they are guaranteed after the first year - Correct Answers they are not guaranteed When there is a named beneficiary on a life insurance policy, the death benefits 1. are directed to a trustee ...

A deferred annuity is surrendered prior to annuitization. Which of the following best describes the nonforfeiture value of the annuity? a. The surrender value should be equal to 100% of the premium paid, minus any prior withdrawals and surrender charges. b. A deferred annuity cannot be surrendered prior to annuitization. The owner must wait until the annuitization period begins to receive any payments. Answer - The surrender value should be equal to 100% of the premium paid, minus any prior with...

ARKANSAS LIFE INSURANCE EXAM 2024 J is a producer who has induced an insured through misrepresentation to surrender an existing insurance policy. What is J guilty of? - correct answer Twisting What is implied authority defined as? - correct answer Authority that is not specifically given to an agent contract, but that an agent can reasonably assume to carry out his/her duties A person who is a nonsmoker, average weight, excellent health would fall into what risk classification? - corr...

Xcel Life Insurance Exam Actual Test Questions and Answers with complete solution Replacement regulation is designed to protect Answers>> Policyowners from mirepresentation and loss of benefits All Health Benefit Plans issued after January 1, 2014 must provide Answers>> Preventative health services Which of these will have the highest monthly payout upon annuitization Answers>> Straight life Which of the following is included in the entire contract according t...

Annuitization is - Ans Accumulated values are converted into a stream of periodic income payments. How often can payments of annuities be paid out? - Ans A specified term of years, for life, or a combination of the two. What is the reason (how has a consumer's priorities and needs shifted) that annuities are well suited for late-life retirement planning? - Ans When a consumer priorities and needs typically shift from asset accumulation to income distribution What is the start date rang...

Xcel Life Insurance Exam 1. Replacement regulation is designed to protect: Policyowners from mirepresentation and loss of benefits 2. All Health Benefit Plans issued after January 1, 2014 must provide: Preventative health services 3. Which of these will have the highest monthly payout upon annuitization: - Straight life

Which of these factors is NOT taken into consideration when determining the cost of a long-term care policy? - ANSWER ☑☑Personal Income What is the nonforfeiture value of an annuity before annuitization? - ANSWER ☑☑All premiums paid, plus interest, minus any withdrawals and surrender charges In an employer sponsored contributory group disability income plan the employer pays 60% of the premium and each employee pays 40% of the premium. Any income benefits paid are taxed to the em...

PA LIFE, HEALTH AND ACCIDENT FINAL EXAM 2024 WITH 100% ACCURATE SOLUTIONS Which of these factors is NOT taken into consideration when determining the cost of a long-term care policy? - ANSWER ☑☑Personal Income What is the nonforfeiture value of an annuity before annuitization? - ANSWER ☑☑All premiums paid, plus interest, minus any withdrawals and surrender charges In an employer sponsored contributory group disability income plan the employer pays 60% of the premium and each...

What kind of retirement plan can a 75-employee for profit corporation establish? - ANSWER-Simple IRA The taxable portion of a monthly income benefit paid during the annuity phase from a nonqualified annuity is calculated using the - ANSWER-Exclusion ratio Unfair claims settlement methods and practices by an insurance company include all of the following acts EXCEPT - ANSWER-failure to pay all claims that are reported within 90 days after a loss occurs The settlement option that allows p...