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Lincoln VA > Choice Plus Assurance > Flashcards

Choice Plus Assurance Flashcards

1
Q

What is the max issue age for the Choice Plus VA?

A

Age 85

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2
Q

What is the combined Admin/M&E charge/fee for the Choice Plus VA?

A

1.30% annually

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3
Q

How much is the annual account fee?

A

$35

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4
Q

What allows the annual account fee to be waived?

A

Lincoln will waive the fee after the 15th contract year or if the account value is $100,000 or more

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5
Q

What are the minimum investment amounts, non-qualified and qualified with no options elected?

A

$10,000 for both

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6
Q

What is the minimum subsequent premium amount allowable?

A

$100

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7
Q

What is the minimum investment amount for non-qualified and qualified with the Advantage 2.0 options elected?

A

$25,000

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8
Q

What is the minimum investment amount for non-qualified and qualified with the i4Life options elected?

A

$50,000

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9
Q

What is the fee/charge for the Estate Enhancement Benefit?

A

0.45% annually

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10
Q

What is the fee for the Enhanced Guaranteed Minimum Death Benefit(EGMDB)?

A

0.25%

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11
Q

What is the free withdrawal amount and period?

A

Available in years 1-7 and 10% of account value or total purchase payments, whichever is more.

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12
Q

When can the client access all of the money in the VA?

A

In the 8th year on.

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13
Q

What is the Single Life and Joint life charge/fee for the Advantage 2.0 Living Benefit options?

A

1.05% and 1.25% respectively

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14
Q

What is the Single Life and Joint life charge/fee for the i4Life Living Benefit options?

A

1.05% and 1.25% respectively

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15
Q

How long is the surrender charge period for Lincoln’s Choice Plus VA and what are the fees over that time?

A

7 years. 7%, 7%, 6%, 6%, 5%, 4%, 3%

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16
Q

What is the fundamental benefit of the Advantage 2.0 options?

A

5% growth/step-up and 5% income withdrawals after age 65

17
Q

What is the fundamental benefit of the i4Life options?

A

i4Life guarantees a minimum income payment. The client’s subsequent income payments can never be less than the first provided he/she takes no other withdrawals.

Lincoln VA (1 decks)

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