This class was created by Brainscape user Wendy Wall. Visit their profile to learn more about the creator.
By:
Wendy Wall
- decks
- flashcards
- learners
Decks in this class (56)
Licensing Process
To qualify for a license an appli...,
List 9 types of people who does n...,
What is a producer 3
22
cards
License Continuance + Renewal
A producer s license is valid for...,
Before refusing to renew a licens...,
A producer s license must contain...
19
cards
Risk + Loss
Risk means 1,
What is pure risk 2,
What is speculative risk 3
23
cards
Insurance Providers
Stock insurance companies 1,
Mutual insurance companies 2,
Other private insurance providers 3
22
cards
Insurance Producers
Agents vs brokers 1,
Laws of agency the insurer as pri...,
The producer insurer relationship...
5
cards
Insurance Contracts
List the 5 basic elements of a le...,
Competent parties a contract that...,
What is a contract of adhesion 3
13
cards
NY State Regulation
Superintendent of insurance 1,
Regulation of insurers 2,
How does the superintendent monit...
19
cards
Trade Practices
List 4 illegal misrepresentations...,
False advertising regarding what ...,
What does defamation of insurer a...
11
cards
Insurable Interest
What is insurable interest 1,
Insurable interest and life insur...,
Name 4 personal relationships tha...
10
cards
Classes of Policies
Classes of life insurance policies 1,
Why is group insurance better 2,
Who gets individual insurance 3
17
cards
Insurance Premiums
What is the mortality factor 1,
How does interest impact the prem...,
An expense factor is also called a 3
8
cards
Third-Party Policy Ownership
Why is 3rd party ownership used 1,
How is 3rd party ownership by bus...,
What is the bring back rule 3
5
cards
Producer Responsibilities
Comparing policies the traditiona...,
Comparing policies interest adjus...,
List 10 valid reasons for replace...
34
cards
Underwriting
List 7 sources of underwriting in...,
Describe the agent producer repor...,
When is an attending physician st...
20
cards
Term Life Insurance
Media 1,
List 4 characteristics of term li...,
2 characteristics of level term i...
14
cards
Whole Life Insurance
List 8 whole life insurance produ...,
2 characteristics of ordinary str...,
3 characteristics of permanent li...
21
cards
Flexible Permanent
Flexible permanent life insurance...,
Adjustable life insurance allows ...,
With universal life insurance ul ...
20
cards
Specialized Life Insurance
Joint life insurance first to die 1,
Survivorship life insurance secon...,
List 4 characteristics of juvenil...
10
cards
Endowments
Endowment contract vs life policy 1,
Uses of endowments 2,
Endowments are not modified endow...
3
cards
Group Life Insurance
List 3 characteristics of group l...,
Who holds the master policy for g...,
List the 6 provisions of a group ...
10
cards
Required, Standard, or Common Policy Provisions
What does the title page include ...,
List 6 characteristics of the ent...,
List 7 ownership rights 3
17
cards
Exclusions and Prohibitions
Name the 5 standard policy exclus...,
What is not included in the aviat...,
What is the standard period perio...
4
cards
Beneficiaries
Name 6 beneficiary designations 1,
When managing multiple beneficiar...,
What is the difference between a ...
9
cards
Options + Riders
Name 2 types of options 1,
2 characteristics of a cash surre...,
When is an extended term nonforfe...
5
cards
Policy Loan and Withdrawal Provisions
Permanent life allows for cash va...,
What is an apl automatic premium ...,
Withdrawals are only available th...
4
cards
Policy Dividend Options
What are dividends list 6 charact...,
Dividend options list 5 optional ...,
List the 3 characteristics of buy...
10
cards
Settlement Options
List 2 biggest settlement options...,
What does without a life continge...,
How is the lump sum cash payment ...
15
cards
Policy Riders for Disability Protection
What is a waiver of premium rider 1,
What are the 2 definitions of tot...,
Universal life disability waivers 3
5
cards
Riders Covering Additional Insureds
Children s term rider 1,
What is a family term rider 2,
Media 3
5
cards
Living Benefits Riders
List 3 characteristcs of an accel...,
Qualifying for accelerated benefi...,
What does no special exclusions a...
8
cards
Other Common Policy Riders
The guaranteed insurability rider...,
How are guaranteed insurability r...,
List 6 characteristics of an acci...
7
cards
Personal Uses of Life Insurance
Survivor protection list 5 common...,
Describe how a lfe insurance poli...,
What are accumulated cash values ...
13
cards
How Much Life Insurance to Buy?
Explain the human life value appr...,
Describe the needs approach to de...,
Determining lump sum needs at dea...
4
cards
Business Uses of Life Insurance
What are 2 types of insured buy s...,
List 4 characteristics of cross p...,
How is a entity buy sell agreemen...
11
cards
Annuities
What are annuities and how are th...,
Annuity accumulation period vs an...,
What is tax deferred accumulation 3
8
cards
Parties to an Annuity
Annuity owners have what 5 rights 1,
What is the annuitant and what ar...,
Define the 2 ways a annuities con...
4
cards
Immediate vs. Deferred
What are immediate annuities 1,
List 3 types of deferred annuities 2,
What does deferred annuity values...
6
cards
Annuity Income Payment Options
Life income payment options 1,
Define straight life income 2,
Define life income with refund gu...
9
cards
Fixed Annuities
Define fixed annuities 1,
Define guaranteed minimum and cur...,
Describe a two tiered fixed annui...
6
cards
Variable, Indexed, and Market-Value Adjusted Annuities
5 aspects of variable annuities 1,
Variable annuity accumulation uni...,
Why do income payments change in ...
12
cards
Annuity Suitability and Uses
Annuity suitability naic 1,
Annuities are most often used for 2,
Use annuities to fund life insura...
9
cards
Taxation of Individual Life Insurance
Life insurance premium payments a...,
Taxation of life insurance death ...,
If a life insurance policy is tra...
16
cards
Taxation of Group Life Insurance
List 4 characteristics of group l...,
Irs section 79 covers what type o...,
Who gets to deduct employer paid ...
3
cards
Taxation of Annuities
Is the accumulation stage tax def...,
Distributions during accumulation...,
Annuity withdrawals before age 59...
8
cards
Tax-Free 1035 Exchanges
What does a section 1035 exchange...,
Allowable 1035 exchanges 2,
Key points 3
3
cards
Social Security
In 1935 president franklin d roos...,
How social security is funded 2,
Social security benefit eligibili...
6
cards
Types of Social Security Benefits
Determining benefit amounts 1,
Social security retirement benefi...,
What is the retirement benefit ea...
7
cards
Qualifies Employer Plans
Name 2 types of retirement plans 1,
Qualified vs nonqualified employe...,
5 characteristcs of tax incentive...
11
cards
Types of Qualified Employer Plan
Defined benefit plans 1,
Life insurance generally cannot b...,
A defined contribution plan defin...
16
cards
Individual Retirement Plans
Iras were established in 1974 wit...,
Today anyone who is younger than ...,
Traditional ira deductions 3
12
cards
Section 529 Plans
A section 529 plan can take one o...,
How is a college savings plan dif...
2
cards
Life Insurance Basics
Regulation of life insurance and ...,
What 2 bodies regulate variable l...,
4 charactertistics of life insura...
27
cards
Regulation of Life Insurance Policies
Required provisions in life insur...,
Assignment sec 3203 2,
Entire contract secs 3203 a 4 3204 3
14
cards
Regulation of Annuities
General provisions of annuities g...,
What are nonforfeiture benefits 2,
Gmib riders gmab riders gmwb ride...
5
cards
Life Insurance Settlements
Life settlement contract is betwe...,
A life settlement broker ________...,
Insurers may ask applicants wheth...
10
cards
GENERAL ADD-ONS
Independent agency system 1,
Which statement regarding the con...,
What is the only part of an annui...
64
cards
More about
NY Life Insurance
- Class purpose General learning
Learn faster with Brainscape on your web, iPhone, or Android device. Study Wendy Wall's NY Life Insurance flashcards now!
How studying works.
Brainscape's adaptive web mobile flashcards system will drill you on your weaknesses, using a pattern guaranteed to help you learn more in less time.
Add your own flashcards.
Either request "Edit" access from the author, or make a copy of the class to edit as your own. And you can always create a totally new class of your own too!
What's Brainscape anyway?
Brainscape is a digital flashcards platform where you can find, create, share, and study any subject on the planet.
We use an adaptive study algorithm that is proven to help you learn faster and remember longer....
Looking for something else?
Life Insurance
- 21 decks
- 797 flashcards
- 207 learners
Decks:
2 Life Insurance Basics, 2 Exam Cards, 2 Video, And more!
Actuarial F103 - General Insurance
- 33 decks
- 1534 flashcards
- 376 learners
Decks:
Chapter 0 Introduction To General Insura, Chapter 1 Insurance Products Background, Chapter 2 Insurance Products Types F203, And more!
MS2 - Life Cycle
- 61 decks
- 1481 flashcards
- 281 learners
Decks:
Regional Anatomy Of The Pelvis And Perin, Male Reproductive Endocrinology, Embryology And Cah, And more!
LIFE INSURANCE (OFFICIAL LLQP)
- 18 decks
- 784 flashcards
- 362 learners
Decks:
Overview Llqp Flashcards, Exam Practice Questions, Exam Practice Questions 2, And more!
