Funding method of annuity - Study guides, Class notes & Summaries

214 FLORIDA INSURANCE LIFE AND VARIABLE ANNUITY ACTUAL EXAM UPDATED variable annuity - CORRECT ANSWER-there is no guarantee of the dollar amount of the payments, they fluctuate according to the value of an account vest primarly in common stocks join and survivor annuity - CORRECT ANSWER-covers two or more lives and contiunes in force so long as any one of them survives period certain annuity - CORRECT ANSWER-annuity imcome option that guarantees a definite minimum peroid of payments life annuity...

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...

Absolute Assignment - ANSWER The assignment by the policy owner of all control and rights to a third party. This differs from collateral assignment, which allows all the rights and control to revert to the owner once a loan is paid off Accident - ANSWER A fortuitous event; unforeseen and unintended Accidental Death Insurance - ANSWER A form of health insurance that provides payment if death of the insured results from accident. Accidental death insurance is often combined with dismembermen...

Accident, Life, and Health Insurance questions and answers 2024 Update Accident, Life, and Health Insurance questions and answers 2024 Update Accident, Life, and Health Insurance questions and answers 2024 Update Premiums paid by self-employed sole proprietors or partners for medical expense insurance are - answera) Not tax deductible b) Partially tax deductible c) Totally tax deductible What is the purpose of a conditional receipt - answera) It is given by the agent only to applicants who full...

Annuity – WebCE Questions and Answers Already Graded A Annuitization is Accumulated values are converted into a stream of periodic income payments. How often can payments of annuities be paid out? 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? When a consumer priorities and needs typically shift from asset accumulation to income distribu...

Primerica Life Insurance Exam: Questions & Answers (with explanations) GRADED A An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock A. mutual funds not paid out after paying claims and other operating costs...

ERISA - Answer- Employee Retirement Income Security Act 1974 SOC Reports - Answer- Service Organization Controls: for external vendors SOC 1 - Answer- Internal Controls & Financial reports; used by auditors SOC 2 - Answer- Security, availability, processing integrity, confidentiality and privacy controls;used by management, regulators, and others under an NDA SOC3 - Answer- Same as SOC2, but available for public use. Tribble V Edison - Answer- Landmark court case re fiduciary resp...

Accident, Life, and Health Insurance questions and answers 2022 Premiums paid by self-employed sole proprietors or partners for medical expense insurance are - answera) Not tax deductible b) Partially tax deductible c) Totally tax deductible d) Taxable c) Totally tax deductible - answerc) What is the purpose of a conditional receipt - answera) It is given by the agent only to applicants who fully prepay all scheduled premiums in advance of policy issue b) It is intended to provide cove...

Annuitization is - Accumulated values are converted into a stream of periodic income payments. How often can payments of annuities be paid out? - 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? - When a consumer priorities and needs typically shift from asset accumulation to income distribution What is the start date range for deferr...

Premiums paid by self-employed sole proprietors or partners for medical expense insurance are - answera) Not tax deductible b) Partially tax deductible c) Totally tax deductible d) Taxable c) Totally tax deductible - answerc) What is the purpose of a conditional receipt - answera) It is given by the agent only to applicants who fully prepay all scheduled premiums in advance of policy issue b) It is intended to provide coverage on a date earlier than the date of the issuance of the policy...