Annuitization is Study guides, Class notes & Summaries

What is the primary difference between fixed and variable annuities? A The frequency of the product's premium payments B The option for annuitization C The ways in which their funds are invested for growth D Provisions for death benefits C Which annuity design is appropriate for a consumer who seeks a way to grow and accumulate funds for the future? A Immediate annuity B Deferred annuity C Both A and B D Neither A nor B B "Using capital to purchase income" defines whic...

WebCE Test 1 Actual Questions with Complete Solutions 100% verified 2023 Abby lives in Ohio, where she is licensed as an insurance producer. She wants to apply for a nonresident license in Pennsylvania. Which of the following conditions must she satisfy? She must move to Pennsylvania. She must surrender her Ohio license. She must be sponsored by a producer licensed in Pennsylvania. She must show her Ohio license is in good standing. An annuity settlement option with a life contingency is ...

Abby lives in Ohio, where she is licensed as an insurance producer. She wants to apply for a nonresident license in Pennsylvania. Which of the following conditions must she satisfy? She must move to Pennsylvania. She must surrender her Ohio license. She must be sponsored by a producer licensed in Pennsylvania. She must show her Ohio license is in good standing. - answer-she must show her Ohio license is in good standing An annuity settlement option with a life contingency is one that: p...

Replacement regulation is designed to protect - Policyowners from mirepresentation and loss of benefits All Health Benefit Plans issued after January 1, 2014 must provide - Preventative health services Which of these will have the highest monthly payout upon annuitization - Straight life Which of the following is included in the entire contract according ti the entire contract provison? - Clauses Which of the following is considered to be an alternative to a life settlement? - Accelered de...

Replacement regulation is designed to protect - ANSWER Policyowners from mirepresentation and loss of benefits All Health Benefit Plans issued after January 1, 2014 must provide - ANSWER Preventative health services Which of these will have the highest monthly payout upon annuitization - ANSWER Straight life Which of the following is included in the entire contract according ti the entire contract provison? - ANSWER Clauses

Replacement regulation is designed to protect - Answer-Policyowners from mirepresentation and loss of benefits All Health Benefit Plans issued after January 1, 2014 must provide - Answer-Preventative health services Which of these will have the highest monthly payout upon annuitization - Answer-Straight life Which of the following is included in the entire contract according ti the entire contract provison? - Answer-Clauses Which of the following is considered to be an alternative to...

Xcel Life Insurance Exam Questions and Answers Already Passed Replacement regulation is designed to protect Policyowners from mirepresentation and loss of benefits All Health Benefit Plans issued after January 1, 2014 must provide Preventative health services Which of these will have the highest monthly payout upon annuitization Straight life Which of the following is included in the entire contract according ti the entire contract provison? Clauses Which of the following is...

Making a statement that is false or maliciously critical of the financial condition of an insurer is known as defamation Which type of business insurance is meant to cover the costs of continuing to do business while the owner is disabled? Business overhead expense policy Dorian exercised a nonforfeiture option by using his life policy's cash value to purchase an extended term insurance option. When the term insurance expires, the protection ends To receive proceeds from a death benefit, ...

Annuitization is Correct Answer Accumulated values are converted into a stream of periodic income payments. How often can payments of annuities be paid out? Correct Answer A specified term of years, for life, or a combination of the two. What is the reason (how has a consumer's priorities and needs shifted) that annuities are well suited for late-life retirement planning? Correct Answer When a consumer priorities and needs typically shift from asset accumulation to income distribution ...

Life, Accident, Health Insurance Pennsylvania Part 2 (Annuities, Federal Tax Considerations for Life Insurance)Qs & As 100% Solved In an annuity, the accumulated money is converted into a stream of income during which time period? ️️Annuitization period What best describes what the annuity period is? ️️The period of time during which accumulated money is converted into income payments Which of the following is NOT a term for the period of time during which the annuitant or ...