Not Just a Life Insurance

This is the primary purpose of getting a life insurance.

• Replace income due to qualifying medical events

• Provide death benefit to the family

• Cash value accumulation

• Business Planning

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

• IRC 72(e)

• IRC 7702(a)

• IRC 101(a)

• IRC 401(k)

The issue age for Alzheimer's Disease rider

• 0 - 50

• 0 - 55

• 0 - 60

• 0 - 65

Alzheimer's Disease rider covers 2 specific conditions.

• Alzheimer's Disease

• Fronto-temporal Dementia

• Parkinson's Dementia

• Lewy-Body Dementia

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

• $1M

• Up to 100% of Death Benefit

• $1.5M

• 2% of the Death Benefit

In Executive Bonus Plan, who will be the beneficiary?

• Beneficiary designated by the employee

• Beneficiary designated by the employer

• The Business

• The employee

Policy loans create a way for the policy owner to access cash value tax-free.

• IRC 101(a)

• IRC 72(e)

• IRC 7702(a)

• IRC 401(k)

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

• The Accountant

• The employee

• The Beneficiary

• The employer

In a Key Person Insurance, who is the beneficiary of the policy?

• Anyone designated by the insured

• The employee

• Family of the employee

• The Business

Who can access the cash value in an Executive Bonus Plan?

• The employer

• The employee

• The beneficiary

• The accountant