Owa life exam - Study guides, Class notes & Summaries

What are the 3 changes a policyowner can make to an Adjustable Life policy? - -Increase/decrease the premium or the premium-paying period -Increase or decrease the face amount -Change the period of protection How are contributions to a tax-sheltered annuity treated with regards to taxation? - They are not included as income for the employee, but are taxable upon distribution. Who can make a fully deductible contribution to a traditional IRA? - An individual not covered by an employer-spo...

What are the 3 changes a policyowner can make to an Adjustable Life policy? - -Increase/decrease the premium or the premium-paying period -Increase or decrease the face amount -Change the period of protection How are contributions to a tax-sheltered annuity treated with regards to taxation? - They are not included as income for the employee, but are taxable upon distribution. Who can make a fully deductible contribution to a traditional IRA? - An individual not covered by an employer-spo...

Insurance Exam life (Iowa laws, rules, and regulations commonly to ALL lines)

How is the insurance commissioner appointed? PAGE 2 - Appointed by the governor and confirmed by the senate How long is a term for the Iowa Insurance Commissioner? PAGE 2 - 4 Years The power to examine and investigate into the affairs of every person engaged in the business of insurance resides with the...PAGE 2 - Commissioner of Insurance

Iowa Life Insurance Exam Randall M. Costello, CMA, CPA

Group Life Insurance life insurance that provides a master policy for a group; each eligible group member receives a certificate of insurance Individual Life Insurance purchased by individuals; usually greater face value Permanent Life vs. Term Life Perm Life: whole life insurance that is effective for the entire life of the insured up to age 100. Term Life: insurance that is effective for a temporary time period, designated by the policy. Participating Life vs. Nonparticipating Life Parti...