Annuity
________ Is a long-term insurance product that provides guaranteed income for life.
What is an Annuity
How many states do we currently have no withholding for?
What is 9
What product(s) offers the Secure Waiver codes?
What is Ultra Secure and Ultra Premier
How many states do we currently run Child Support look up for?
What is 3
What BE is opened for a TSA Withdrawal?
What is 468
What is the current max amount to start an annuity without Home Office Approval?
What is 3 million
______ requires a W4-P be filled out to elect out of no withholding.
What is Connecticut
What Income Annuity can be surrendered?
What is SPRPN & SPDBQ/SPDBN
Do we report tax withholding on Church of God LMF Policies?
What is No
Why would a TAXR not generate?
What is nothing taxable
Do all of our products have a Minimum Issue age?
What is No
*Only Income annuity with premium return (59) and the Deferred Income Protectors (40)
When a W-9 is requested what is being verified?
What is a Social Security Number
The ______ Annuities require you to look at SSBN before updating beneficiary information to make sure the policy still allows for one.
What is an Immediate
*LC (Life Only), JL (Joint Life) or if the policy is in the Lifetime Portion of the Benefit.
*SPDBN/SPDBQ if the Death Benefit indicates $0.00 then Bene can not be named
Why would an AFSR be needed for an LMF Non-Qualified policy?
What is Cost Basis
What screen can an agents email be located?
What is ADRI
All of our products are offered as Non-Qualified and Qualified.
What is No
*Income Annuity with premium return only allows for Non-Qualified
What causes a 5498 to generate?
What is an Additional Deposit and Rollover
Interest sysws only apply to Non-Qualified contract.
What is No
*Qualified and Non-Qualified can have interest sysws
What State(s) can we not update Beneficiary information over the phone to a Funeral Home?
What is Minnesota and New Jersey
*Minnesota has to be in writing as it has to state "To any funeral home that has provided funeral or burial services to the Insured."
* New Jersey "Funeral Home can be the owner or the collateral assignee. So they can collaterally assign the policy to the Funeral Home and then name the State of NJ as the irrevocable beneficiary. "
We can take request over the phone for Structured Settlements.
What is No
*All request have to be in writing.
What does QLAC Stand for?
What is a Qualified Longevity Annuity Contract
LMF Puerto Rico policy that is Qualified with a valid TIN, with a Caution. What type of reporting will they receive?
What is 480.7
*All LMF Qualified policies will get foreign withholding as they all generated from PR. They are the exceptions and will get 480.7 so they would not get regular reporting.
How is interest earned on our annuities?
What is Compounded Daily
What platforms of Electronic Signature do we accept?
What is Adobe Sign, DocuSign, or OneSpan
What company name might require a Regulation 60 be done on a policy? (Reg60)
What is Companion