Life Insurance Flashcard

Front

What are the different products we can offer to clients?

Back

Term, UL, Whole Life, EIUL & Fixed Annuity

Front

What is the most important factor(s) to consider when designing an EIUL policy for a client?

Back

The client’s affordability, The client’s needs, The client’s goals

Front

On the EIUL illustration the guaranteed values column eventually becomes zeros after some time, regardless of the amount and/or duration of the premium. The reason is that

Back

This represents the worst-case scenario of interest earned and fees charged, therefore resulting in lapse of the policy. This must be fully disclosed to clients at all times

Front

On the EIUL illustration the current values column is

Back

Not guaranteed and the actual results can be better or worse

Front

How much money is left for the beneficiary after a client with a $500,000 death benefit receives a Full Acceleration payout of $300,000 and then passes away?

Back

$0

Front

With an EIUL, the Participation Rate is

Back

the percentage of positive index movement credited to the EIUL.

Front

An EIUL plan needs to be monitored to make sure that it is being funded at an appropriate premium level based on the earned interest rate.

Back

it is being funded at an appropriate premium level based on the earned interest rate.

Front

When the interest credit depends only on the difference between the beginning and end index value each year, it is called

Back

annual Point-to-Point crediting method.

Front

How much can John take home annually and for how long if he withdraws lifetime income from his EIA with an income rate of 5%? Options: $30,000 for 20 years, $25,000 for life, $30,000 for life, $25,000 for 20 years

Back

$30,000 for life

Front

When will the new PFA associate receive the reimbursement towards their licensing/start-up costs?

Back

After minimum 3 sales of 9,000 points are closed, issued, and delivered and the associate is licensed and appointed.