I will get to MD before you
Name 2 differences between 401k and Roth 401k?
1) Roth 401k - contributions are made with after-tax dollars.
2) 401K - Contributions are made with pre-tax dollars.
Does Traditional IRA fall under Qualified Accts or Non-Qualified Accts?
Qualified Accounts!
What company offers 1% (up to $100,000) of the face amount at the time of death to an eligible registered charity?
Foresters
It is a permanent policy, has a guaranteed death benefit, and a fixed cash value.
Whole Life.
For SMART UL, what are the age ranges in order to apply for coverage?
15 days - 85 years old.
22 years old - $1,000,000 DB for 20yrs
Monthly Premium- $75
Name the carrier!
NLG
Living Promise GRADED - How is the dead benefit paid out in the first 2 years?
This plan has a minimum of 100,000 face amount.
Term
Living Promise MOO - What are the face amounts for Graded and Level?
Graded up to $20,000
Level up to $50,000
Name all 6 living benefits.
Terminal Illness Benefit - Chronic Illness Benefit - Critical Illness Benefit - Critical Injury Benefit - Alzheimer's Disease Benefit.
Bathing, continence, dressing, eating, toileting, and transferring.
Currently, what is the cap interest rate for SMART ULs?
4.55%
Contributions are made with pre-tax dollars, reducing your gross income during your working years
401k
Orphan Benefit - what is the monthly income support for kids who lose their parent(s).
$900 per month
What's the contribution limit on Traditional and Roth IRAs if under 50 yo?
$7,000
What's the contribution limit on Traditional and Roth IRAs if 50+?
$8,000
The objective of this plan is to compensate for the financial loss of a company.
Keyman insurance
The money in your Roth 401(k) grows tax-free, and qualified withdrawals in retirement are also tax-free. To be qualified, withdrawals must.....
occur after age 59 1⁄2.
An ____ policy can be used as part of your estate planning strategy and mortgage protection helping to ensure that your heirs receive financial support and that estate taxes can be covered.
SGUL, IUL, or Term?
SGUL
What does RMD mean?
Required Minimum Distribution.
This plan has 3 benefits: 1) Assured Payout 2) Payment Flexibility 3) Cash Out Rider
SGUL