LIFE INSURANCE

Section 529 Plans - ANSWER - state provided - can be funded by after tax dollars - can pay prepaid tuition - All earnings exempt from federal taxes - If withdrawn for unqualified withdrawl, 10% penalty Roth IRA - ANSWER private retirement plan that taxes income before it is saved, but which does not tax interest on that income when funds are used upon retirement Distributions don't have to start before 70.5 401(k) plan - ANSWER Elective deferral plan that allows employee to reduce com...

Who is protected under the In-Contestability Clause included under a Life Assurance Policy? Insurer Insured Insurance Agent Insurance Broker 2 2 Section 45 (Indisputability Clause) of Insurance Act, protects the Insured, from Rejection of Claim, by the Insurer; provided the Policy has completed --. Choose the Most Appropriate Option. One Year Three Years Five Years Seven Years 2 3 As per the Suicide Clause, if the Life-Assured Dies, as a Result of Suicide, After 3 Years of the Issu...

#3. An insured misstated her age on an application for an individual health insurance policy. The insurance company found the mistake after the contestable period had expired. The insurance company will take which of the following actions regarding any claim that has been issued? a) Adjust the claim benefit to reflect the insured's true age b) Deny any claims and cancel the policy c) Deny paying a claim based on misrepresentation d) Pay the full amount of a claim because the contestable ...