Payout annuity period - Study guides, Class notes & Summaries

Which of the following is a purpose of the annuity? A. The replacement of earnings upon the disability of an individual B. The distribution of a lifetime income C. The discounting of a principal sum back to its present value D. The creation of a fund at the earth of an individual Ans: B Why: the purpose of an annuity is the distribution of a lifetime income Annuity purchasers transfer to an insurance company their risk of A. Outliving their financial resources B. Becoming uninsurable C...

NJ Life Insurance Study Set Questions with Correct Answers What waiver waives all future premiums in the event of total and permanent disability? - Answer-Waiver of premium Which rider guarantees that at specified ages, dates, or events, the insured may buy additional insurance without a med exam? - Answer-Guaranteed insurability Annuity Premium Determination Factors - Answer-1. Age 2. Sex 3. Assumed interest rate 4. Income amount & payment guarantee 5. Loading for company expenses ...

AZ Life Insurance Exam Prep Study Guide with 100% Complete Solutions -Secondary - Correct Answer ️️ -A Contingent Beneficiary has the __________ right to collect an Insured's death benefit. -A uniform set of insurance regulations - Correct Answer ️️ -What does the Producer Licensing Model Act (PLMA) provide? -A uniform set of insurance regulations -Disability income -A double payout -Private Life Maturity Assets -They are known for their very flexible payment terms - Correct A...

Annuities Questions and Answers | Latest Update | Graded A+ 1. **Who is responsible for purchasing an annuity contract?** - A) Beneficiary - B) Insurance Company - C) Annuitant - D) Contract Owner - D) Contract Owner **Explanation:** The contract owner is the person or entity that buys the annuity. 2. **Who receives periodic payments from an annuity once it starts paying out?** - A) Beneficiary - B) Policyholder - C) Annuitant - D) Trustee - C) Annuitant **Explanation:...

Annuities CEWhich of the following is a purpose of the annuity? A. The replacement of earnings upon the disability of an individual B. The distribution of a lifetime income C. The discounting of a principal sum back to its present value D. The creation of a fund at the earth of an individual - correct answer B Why: the purpose of an annuity is the distribution of a lifetime income Annuity purchasers transfer to an insurance company their risk of A. Outliving their financial resour...

Which of the following is considered to be an alternative to a life settlement? - ANSWER ☑☑Accelerated death benefit rider The document that describes policy features, benefits, exclusions, and riders in Long-Term Care policy is known as - ANSWER ☑☑Outline of Coverage No Long-Term care may exclude pre-existing conditions for a period of more than - ANSWER ☑☑6 months The cause of a loss is referred to as - ANSWER ☑☑Peril Which of the following is NOT eligible depen...

Florida 2-15 Insurance License Exam 100 Questions with Verified Answers. Accumulation units are converted into annuity units: ️ at the time of annuity payout. A group life insurance plan in which the employer pays the entire premium is known as a ________________ plan. ️ noncontributory If a disabled worker covered under Social Security disability benefits recovers and then is disabled again within five years, a new waiting period is required before benefits begin again. ️ FALSE R...

PA Health, Life and Accident insurance exam part 2 Latest Update Graded A+ Which of the following is considered to be an alternative to a life settlement? Accelerated death benefit rider The document that describes policy features, benefits, exclusions, and riders in Long-Term Care policy is known as Outline of Coverage No Long-Term care may exclude pre-existing conditions for a period of more than 6 months The cause of a loss is referred to as Peril Which of these statements a...

Florida 2-15 Insurance License Exam/ 149 Q&A/ . Terms like: Accumulation units are converted into annuity units: - Answer: at the time of annuity payout. A group life insurance plan in which the employer pays the entire premium is known as a ________________ plan. - Answer: noncontributory If a disabled worker covered under Social Security disability benefits recovers and then is disabled again within five years, a new waiting period is required before benefits begin again. - Answer: F...

South Carolina Life & Health Final Exam Practice with Verified Solutions Bill requires some nursing care and supervision but NOT full-time care. Which of these nursing home options would best serve him? Assisted Living Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? $4,000 ($100,000 x.04) All of the following are functions of an insuring cla...