Investing and Taxes
Retirement (And Even More Taxes)
Care That Lasts Long Term
Love Assurance
I Can't Work
100

This account has dividends and interest taxed at ordinary income tax rates each year and capital gains taxed after they are realized on a sale for a gain

What is a non-qualified investment account?

100

2035

What is the year that the social security trust fund is projected to deplete its surplus?

100

$408

What is the nursing home daily average cost of care in the Milwaukee-Racine area.

*Based on NLTC 2020 Cost of Care Survey Report.

100

Conditional assignment appointing a lender as the primary beneficiary of a death benefit for a loan.

What is a collateral assignment of life insurance?

100

When disability insurance pays out

What is when you are sick or hurt and cannot work?

200

This investment account is tax deferred but penalized if you access it prior to age 59.5 unless an exception applies

What is a tax qualified investment account?

200

The transfer of funds from a pre-tax retirement account to a roth retirement account.

What is Roth conversion?

200

The amount of time you must wait before LTC insurance benefits are paid

What is the elimination period?

200

Life insurance that provides protection for an insured's entire lifetime

What is whole life insurance?

200

The average percentage of income protected by employer paid group disability insurance

What is 60%?

300

A distribution from a roth IRA opened at least five years ago from someone over the age of 59.5

What is a roth IRA qualified distribution?

300

40%

What is the percentage of older Americans that currently rely exclusively on Social Security income in retirement?

300

The ability of a person to keep assets equal to the benefit amounts received under a qualified LTC insurance policy

What is "Asset disregard" under a qualified Partnership LTC policy?

300

Tax qualification of a heavily overfunded life insurance policy whose funding exceeds federal tax law limits 

What is a Modified Endowment Contract (MEC)?

300

The amount of monthly disability income you will receive from an annual base salary of $96K and an annual bonus of $24K with 60% group LTDi?

What is $4800?

400

Married Filing Jointly MAGI > 240K, Single MAGI > 161K

What is the contribution phase out income limit for a roth IRA in 2024?

400

An annuity contract that allows RMDs to be deferred until age 85

What is a Qualified Longevity Annuity Contract (QLAC)?

400

The inability to perform at least 2 out of 6 activities of daily living OR a severe cognitive impairment

What are LTC insurance benefit triggers?

400

A non-guaranteed payment from the insurance company to the policy owner representing profits the company earned during the policy year

What is a Life Insurance Dividend?

400

The reason disability insurance does not cover 100% of your pre disability income take home pay

What is there would be no financial incentive to go back to work?

500

Age 73

The age at which required minimum distributions (RMDs) must start under the SECURE 2.0 act.

500

IRA distributions made for qualified higher education expenses

What is an exception to 10% early distribution penalty?

500

Eating, Bathing, Dressing, Toileting, Transferring & Continence

What are Activities of Daily Living?

500

The type of permanent insurance where the owner takes the investment risk instead of the insurance company.

What is Variable Life Insurance?

500

The inability to engage in substantial gainful activity (SGA) due to a medically-determinable physical or mental impairment(s) that has lasted or is expected to last for a continuous period of at least 12 months or result in death.

What is Social Security's Definition of Disability?

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