LCO Quiz Whizz S2 Ep.9

LCO Quiz Whizz S2

Ep. 9

SWB | Premium Waiver Riders

Smart Wealth Builder

SWB

Multiple Choice

What is the maximum maturity age for SWB?

• 100

• 115

• 120

• 125

Multiple Choice

Can the SWB policyholder assign a Secondary Insured?

• No, there is no such option.

• Yes, but the maturity date of the policy remains unchanged.

• Yes, and the maturity date of the policy extends another 50 years from the age of the new Insured.

• Yes, and the maturity date of the policy extends another 125 years from the age of the new Insured.

Multiple Choice

SWB provides 100% capital guaranteed, meaning that regardless of market performance, the total premiums that you have paid will be fully secured.

At which year is SWB (SGD) 100% capital guaranteed?

• Capital is guaranteed under Death Benefit at the end of the 15th year.

• Capital is guaranteed under Guaranteed Surrender Value at the end of the 15th year.

• Capital is guaranteed under Death Benefit at the end of the 20th year.

• Capital is guaranteed under Guaranteed Surrender Value at the end of the 20th year.

Multiple Choice

Is partial withdrawal of cash value allowed for SWB?

• Yes, from the 14th policy year onwards

• Yes, from the 15th policy year onwards

• Yes, from the 16th policy year onwards

• No, it is not allowed.

Multiple Choice

Is the illustrated rate of investment return (3.0% / 4.25%) the actual rate, aka yield, SWB earns from premiums?

• Yes, SWB earns the same as the illustrated rate of investment return.

• No, whatever par fund earns, SWB earns the same.

  (Meaning it can be more or less than 3.0 / 4.25%)

• No, we have to factor in things like insurance charges and distribution costs.

• No, the numbers are not significant and they're just example numbers for show.

Critical Protector Waiver

Payor Benefit Rider

Premium Waiver Riders

Multiple Choice

If SWB premiums is $6,000 and for Early Critical Protector Waiver of Premium is $212, does the $212 contribute to the returns of SWB?

• Yes, riders contribute to returns

• Yes, but only riders with ECI contribute to returns

• No, riders do not contribute to returns

Multiple Choice

If client's GPP covers 200k death benefit and 100 Early CI benefit, can he add the Critical Protector Waiver of Premium (for LCI)

• Yes, this is a possible option

• No, it is not possible because ECI benefit requires ECI premium waiver rider

• No, it is not possible because GPP does not have premium waiver rider

Multiple Choice

If client's GPP covers 200k death benefit and 200 Early CI benefit, can he add the Early Critical Protector Waiver of Premium (for ECI)

• Yes, a premium waiver rider can be added regardless of the ECI/LCI coverage amount

• Yes, it is possible to have a premium waiver rider if the death benefit is equal to the ECI benefit

• No, it is not possible to have a premium waiver rider if the death benefit is equal to the ECI and/or LCI benefit

Multiple Choice

Can a 30 year old client getting an SWB for himself add the Payor Benefit rider?

• Yes, the rider will waive future premiums upon the client's death

• No, there is no such rider

• No, Payor Benefit rider is only applicable if there is a child insured below the age of 21

• No, Payor Benefit rider is only applicable if there is a child insured below the age of 16

Multiple Choice

Can a parent getting an SWB for his child add both the Critical Protector Waiver of Premium and the Payor Benefit rider?

• No, the riders are not stackable

• Yes, the riders are stackable