CFT
What is the difference between a captive company and a non-captive company?
Answer: Captive company = only offers products from one carrier
Non-captive company = can offer products from multiple carriers
What does IUL stand for?
Indexed Universal Life
What does LB stand for?
Answer: Living Benefits
What type of company is Ethos?
Answer: Insurtech / life insurance technology company
What does FIA stand for?
Answer: Fixed Indexed Annuity
What is variable growth? Name three accounts that fall under it.
Answer: Variable growth means the account value fluctuates with the market.
Examples: 401(k), IRA, Roth IRA, brokerage account, mutual funds
What is a floor and what is a cap?
Answer: Floor = protects against market losses
Cap = limits maximum credited interest
Can you build cash value in this product?
Answer: No
What are two things that make Ethos unique?
Answer: Instant approvals and no medical exams in many cases + Free will and living trust
What are two main reasons you would use an FIA?
Answer: Protection from market losses, guaranteed income/retirement planning, tax-deferred growth
what is the difference between death insurance and life insurance?
Answer: Death insurance focuses only on paying a death benefit.
Life insurance can provide living benefits, cash value, and retirement strategies while alive.
What is the lowest north american return in the last 20 years?
Answer: 6.8%
What company offers a complimentary will and trust with the Term LB?
Answer: Ethos
What is instant decision underwriting?
Instant approvals and no medical exams in many cases
What is the difference between a growth FIA and an income FIA?
Answer: Growth FIA focuses on accumulation. Income FIA focuses on lifetime income payments.
Who invented the 401(k), and when was it created?
Answer: Ted Benna created/popularized the 401(k) in 1978.
The tax code for IUL was invented in what year?
Answer: 1982 (TEFRA legislation laid groundwork for modern cash value life insurance tax treatment)
What are the three different types of living benefits protected by this product?
Answer: Critical illness, chronic illness, terminal illness
What is the difference between traditional underwriting and accelerated underwriting?
Answer: Accelerated underwriting uses technology/data to speed up decisions and reduce medical
Are FIAs tax deferred or tax advantaged?
Answer: Tax deferred
What are the five magic questions?
Answer: 1. What age would you like to retire?
2. What would your retirement dream life look like?
3. Have you ever thought of how much you'd need to have saved up to retire?
4. How much would you like to receive on a monthly basis in retirement?
5. If I could put a plan together that can show you exactly how to get to those goals, is that something you'd allow me
to look into for you?
What’s the difference between a cap and a participation rate?
Answer: Cap = maximum credited interest
Participation rate = percentage of the index gain credited
What is the difference between a Term LB and normal term insurance?
Answer: Term LB includes living benefits allowing access to the death benefit while alive under qualifying conditions.
Who is the CEO and co-founder of Ethos?
Answer: Peter Colis
What are three ways you know for certain money is rollable?
Answer: Old 401(k), Traditional IRA, 403(b), TSP, deferred compensation plan