Annuitization point - Study guides, Class notes & Summaries

401k - qualified retirement plan that allows employees to take a reduction in their current salaries by deferring amounts into a retirement plan; company can also match the employee's contribution, whether it is dollar for dollar or a percentage; participants over age 50 can contribute additional money to catch up; plans are permitted early withdrawal for specified hardship such as death or disability 403B - for nonprofit organizations and for employees in the public school system; contribu...

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...

Florida 2-15 Overview/ Study Guide (Fool Proof Guide): Annuities | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ Annuity - Answer -A savings plan within an insurance company instead of a bank. - An annuity is not considered insurance, but the life insurance industry handles them Fixed Annuity - Answer -A savings plan with an insurance company with a minimum guaranteed interest rate Accumulation Period - Answer -The period in an annuity where the savings is bui...

Annuity correct answersA savings plan within an insurance company instead of a bank. - An annuity is not considered insurance, but the life insurance industry handles them Fixed Annuity correct answersA savings plan with an insurance company with a minimum guaranteed interest rate Accumulation Period correct answersThe period in an annuity where the savings is building Annuity Period correct answersThe payout period of an annuity What is the purpose of an annuity? correct answersTo ...

401(k) Plan - answerCODA plan in which plan participants make contributions via salary reductions, cash bonuses or thrift plans. 403(b) Tax-sheltered Annuity - answer401(k) plan for employees of nonprofit organizations and public schools. 408(k) Plan - answerQualified plans for small employers. A mix of an IRA and profit-sharing plan. More commonly referred to as a SEP. Absolute - answerAn absolute assignment occurs when the policyowner assigns all rights including cash values to ...

Florida 2-15 Overview/ Study Guide (Fool Proof Guide): Annuities Rated A Annuity A savings plan within an insurance company instead of a bank. - An annuity is not considered insurance, but the life insurance industry handles them Fixed Annuity A savings plan with an insurance company with a minimum guaranteed interest rate Accumulation Period The period in an annuity where the savings is building Annuity Period The payout period of an annuity What is the purpose of an annuity? To provide inc...

Florida 2-15 Overview/ Study Guide (Fool Proof Guide): Annuities Exam Questions And Answers Annuity - ANS A savings plan within an insurance company instead of a bank. - An annuity is not considered insurance, but the life insurance industry handles them Fixed Annuity - ANS A savings plan with an insurance company with a minimum guaranteed interest rate Accumulation Period - ANS The period in an annuity where the savings is building Annuity Period - ANS The payout perio...

Florida 2-15 Overview/ Study Guide (Fool Proof Guide): Annuities | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ Annuity - Answer -A savings plan within an insurance company instead of a bank. - An annuity is not considered insurance, but the life insurance industry handles them Fixed Annuity - Answer -A savings plan with an insurance company with a minimum guaranteed interest rate Accumulation Period - Answer -The period in an annuity where the savings is bui...

Webce Insurance Test Questions With Answers - Latest 2023/2024 (Graded). Which one of the following best describes a policy that has a relatively low face amount and has premiums that are paid to an insurance agent who generally calls on the policyowner at home to collect them? group life insurance industrial life insurance ordinary term insurance ordinary whole life insurance - Answer- industrial life insurance Sylvia's insurer guarantees a fixed death benefit for the policy she owns. B...

A plan in which plan participants make contributions via salary reductions, cash bonuses or thrift plans. 403(b) Tax-sheltered Annuity - answer401(k) plan for employees of nonprofit organizations and public schools. 408(k) Plan - answerQualified plans for small employers. A mix of an IRA and profit-sharing plan. More commonly referred to as a SEP. Absolute - answerAn absolute assignment occurs when the policyowner assigns all rights including cash values to another person or entity. Synon...