Day 4 Flashcards
1
Q
What types of people are in a classroom?
A
The Assistant
The contrarian
The Motormouth
2
Q
What is the Survivor Benefit Plan?
A
Guarantees portion of the retirement plan will go to your beneficiary.
Decision made at Retirement.
A % will come out of your retirement check
3
Q
Explain the SBP program formula?
A
Retired pay (3000)-} full base amount selected-} 3,0006.5%= 195(monthly payment)-} Spouse benefit = 3,00055%= 1,650(spouse benefit)
4
Q
SBP Vs. Insurance?
A
SBP
Cannot be outlived
includes inflation fighter
taxed
Insurance
Can be outlived
doesn’t include inflation fighter
Not Taxed
5
Q
What are the months for the one time cancelation for SBP?
A
25-36 months
