Not Just a Life Insurance

Not Just a Life Insurance

Assessment

Flashcard

Business

Professional Development

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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10 questions

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1.

FLASHCARD QUESTION

Front

This is the primary purpose of getting a life insurance.

Back

Provide death benefit to the family

2.

FLASHCARD QUESTION

Front

Internal Revenue Code governing the tax-free nature of the death benefit in a Life Insurance

Back

IRC 101(a)

3.

FLASHCARD QUESTION

Front

The issue age for Alzheimer's Disease rider

Back

0 - 60

4.

FLASHCARD QUESTION

Front

Maximum benefit that can be paid out under the Terminal Illness rider

Back

$1.5M

5.

FLASHCARD QUESTION

Front

In Executive Bonus Plan, who will be the beneficiary?

Back

Beneficiary designated by the employee

6.

FLASHCARD QUESTION

Front

Policy loans create a way for the policy owner to access cash value tax-free. What is the relevant IRC section?

Back

IRC 7702(a)

7.

FLASHCARD QUESTION

Front

In an Executive Bonus Plan, who is the owner of the policy?

Back

The employee

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