Life Insurance and Annuities Flashcards
1
Q
Advantages of Universal Life?
A
Flexible, adjustable death benefit, provides full disclosure annually, unbundled.
2
Q
Dividend options
A
cash, paid up dividend additions, reduced premium, accumulate, one year term
3
Q
Variable life insurance - guaranteed cash value?
A
no
4
Q
variable deferred annuity - mutual funds or subaccounts?
A
subaccounts
5
Q
acceptable 1035 exchanges
A
endowment to annuity
annuity to annuity
life to life
life to annuity
6
Q
true or false: policy illustrations will not disclose all of the necessary information.
A
true
7
Q
payroll deduction life insurance
A
- individual policies
- costs the employer nothing except for administrative expenses
- employees receive no invoice
