quiz answers to study

What is TRUE regarding a $100,000 20-year level term policy?

*If the insured dies before the policy expired, the beneficiary will receive $100,000 *The policy will expire at the end of the 20-year period *The Policy premiums remain level for 20 years

The current interest rate on an equity indexed annuity is often based on?

An Index Like Standard & Poor's 500

your client wants BOTH protection and savings from the insurance, and is willing to pay premiums until retirement at age 65. What would be the right policy for this client?

Limited pay whole life- Premium payments will cease at her age 65, but coverage will continue to her death or age 100

Installments for a FIXED amount option has no life contingencies. A specific amount of benefits will be exhausted whether or not the annuitant is living.

The payments

What best describes what an annuity period is?

The period of time which accumulated money is converted into income payments

If an annuitant dies before annuitization occurs, what will the beneficiary receive?

Either the amount paid into the plan or the cash value of the plan, whichever is the greater amount

"accumulation period"

is the period of time over which the annuitant makes payments (premiums) into an annuity. This is the period of time during which The payments earn interest and grow tax deferred.

An Agent selling variable annuities must be registered with?

FINRA