HLLQP | Exam With Complete Solutions.

Prabdeep is sole sales representative. He has good connections in community that his sister Shatakski does not. Shatakski starts a business with on demand load. If prabdep were to die. Agent reccomends coverage on is brother to cover on demand loan - The bank can recall the loan if the feel business may not be successful without prabdeep who is the KEP EMPLOYER Insurance company reviewing for group adjustable whole life policies. Comapring projections made 10 years ago realized actual invesments are highter. in return. - Reduce premium and increase death benefit Rashaad is architect monthly salary $6500 of that employer withholds $250 for CPP and $425 for company pension and $75 for employment Insurance and $1450 for income taxes . Rashaad contributes $200 a month in TFSA taking into wife income he belieces family could maintain lifestyle with 75% of his income if he were to die. What is the amount of month income Rashaad needs analysis should be based on to determine the amount of insurance coverage he needs? - Monthly Income after deductions: $4100 $6500 - ($200TFSA) - ($250 CPP) - ($425 Company Pension) - ($75 EI) - ($1450 Income Tax) Linda lives in Qubec. Married at age 19. Her marriage contract said she needed to provide life insurance on spouse so she made name him beneficiary of Participating Whole life Insurance. They Divorced, Linda at age 55 is remarrying. She should change beneficiary to new spouse but her request was rejected. Why would they have rejected it - Linda did not specify that the beneficiary was revocable when she first designated her ex-spouse Muna is agent working on application for business insurance policy. She has which employees are integral to the success of his company. - She is trying to Identify the Key employees whose loss would negatively impact the company.Vitaly has applied for Insurance policy hoping to get approved before leaving for his extended trip to his homeland Bulgaria. He is upset when he learns it could take months to have the policy approved. His agent offers to issue Temporary Insurance Agreement (TIA) in mean time. What conditions that exist in permanent life insurance policy will also be in place for TIA? - The Suicide exclusion will apply