Full Surrender Quote and Safe Harbor

If you are doing a Full Surrender Quote in wmA and you get an Red Error Message, on the top left, to check what kind of restriction do you have to find on IRC.

• Warning Error Chart

• Full Surrender Quote Restrictions Errors

• wmA - Warning Restrictions

• wmA - Type of Errors Chart

To enter the Surrender Quote tab on wmA, where do you have to go.

• Disbursements Link

• Values Link

In the View the Warning Restrictions section (top Right) to determine if there are restrictions on the policy.

• True

• False

What are the two ways to send the Full Surrender Quote on wmA?

• Phone and Email

• Mail and Email

• Fax and Email

Do not enter more than one email. If the request is being sent to multiple email addresses, they must be entered in wmA separately.

• True

• False

Safe Harbor only applies to a policy issued prior to August 13, 2001.

• True

• False

What is the amount that has to be paid or received in connection with the termination of the policy?

• is $5,000 or less

• is $7,500 or less

• is ₡5,000 or less

Who issued regulations in which stated insurers could assume that the termination of certain small life insurance policies did not result in a taxable gain.

• The IRS

• The IRC

• The SBR

• The HIPAA

Which of the following statements is considered false when determining if the policy falls within Safe Harbor:

• Premium reduction

• Cash Value of Additional Insurance (AI)

• Dividends with Interest /Dividends on Deposi

• Terminal Dividend Interim/Current Dividend, if applicable