NC Life Insurance Annuities Questions With 100% Correct Answers 2024

NC Life Insurance Annuities Questions With 100% Correct Answers 2024 Deferred - answerwithheld or postponed until a specified time or event in the future Life contingency - answerDependent upon whether or not the insured is alive Liquidation of an Estate - answerconverting a person's net worth into a cash flow Natural person - answera human being Qualified plan - answera retirement plan that meets the IRS guidelines for receiving favorable tax treatment Suitability - answera requirement to determine if an insurance product or an investment is appropriate for a particular customer annuity - answeris a contract that provides income for a specified period of years or for life. Are annuities life insurance? - answerNo, they are a vehicle for the accumulation of money and the liquidation of an estate. Owner - answerthe purchaser of the annuity contract, but not necessarily the one who receives the benefits. T Does the owner of annuity have all of the rights? - answeryes, the owners can name the beneficiary and surrendering the annuity. annuitant - answerthe person who receives benefits or payments from the annuity, whose life expectancy is taken into consideration. does the annuitant and the owner have to be the same person? - answerno, they do not have to be the same person but most of the time they are. The owner can be a trust, corporation or legal entity. What is the accumulation period also kn