Exam attempt 4

an agents license will terminate within how many days from the due date of obligatory fees and continuing education requirements

90 days

an individual has been diagnosed with alzheimers diseas. he is insured under a life insurance policy with the accelerated benefits rider. which of the following is true regarding taxation of the accelerated benefits?

A portion of the benefit up to a limit is tax free; the rest is taxable income.

The full premium was submitted with the application for life insurance and the policy was issued two weeks later as requested. When does the policy coverage become effective?

As of the application date

all of the following are true of the federal tax advantages of qualified plan EXCEPT.

B. at distribution, all amounts received by the employee are tax free. a. employee and employer contributions are not counted as income to the employee for income tax purposes B. at distribution, all amounts received by the employee are tax free C. employer contributions are tax deductible as ordinary business expense D. funds accumulate on a tax deferred basis

Aleatory

Exchange of unequeal values. aleatory, unequal.

Any inducement offered to the insured in the sale of an insurance policy that is not specified in the policy is an unlawful practice know as

Twisting