Indiana Life Insurance Study guides, Class notes & Summaries

Which of the following is NOT a characteristic of a Variable Annuity? A. Premium Payments may be level or flexible or single premium B. The cash values are invested in securities. C. The non-forfeiture values will provide for the return of the cash value should the annuitant die during the accumulation period. D. It provides for a tax-free death benefit. - Answer-D. It provides for a tax-free death benefit. All of the following policies provide for the tax deferred accumulation of cash val...

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Indiana Life Insurance Exam-With 100% verified solutions -tutor verified

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Which of the following amounts must decrease in decreasing term policy? - Answer Death Benefit In life insurance, insurable interest must exist at the time the ... - Answer producer writes an application on a proposed insured. An applicant makes an offer to the insurer when they... - Answer pay an initial premium with the application. What makes Universal life insurance different from other forms of permanent insurance? - Answer Premium Schedule An insurer that shares its pro...

Which of the following does Social Security NOT provide benefits for? - Answer Dismemberment The Affordable Care Act (ACA) provides health coverage to dependents up to the age of: - Answer 26 What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who do not take the required minimum distributions from their qualified retirement plan? - Answer 50% Which of the following statements is correct regarding an employer/employee group health plan? - Answer the e...

Which of the following does Social Security NOT provide benefits for? - Answer Dismemberment The Affordable Care Act (ACA) provides health coverage to dependents up to the age of: - Answer 26 What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who do not take the required minimum distributions from their qualified retirement plan? - Answer 50% Which of the following statements is correct regarding an employer/employee group health plan? - Answer the e...

Which of the following does Social Security NOT provide benefits for? - Answer Dismemberment The Affordable Care Act (ACA) provides health coverage to dependents up to the age of: - Answer 26 What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who do not take the required minimum distributions from their qualified retirement plan? - Answer 50% Which of the following statements is correct regarding an employer/employee group health plan? - Answer the e...

An architecture firm would stand to lose a lot of money in the event of the death of its project manager. Which type of policy should the firm purchase on its project manager? - Answer Universal life insurance Key Person insurance Graded insurance Executive insurance Correct. Key person insurance is a type of life insurance policy that provides a death benefit to a business if its owner or another significant employee passes away. If a retiree on Medicare required five hospital stays in...