Qualified & Non- Qual
General
Benefits
Disadvantages
100
Is a qualified annuity taxed on the withdrawal or the deposit?
What is withdrawal
100
A Form of insurance entitling the investor to various payments.
What is an annuity?
100
What two types of annuities includes a return of premium feature?
What is Income Access and Ultra Income.
100
How long after the policy start date on an Ultra Secure can you no longer make contributions?
What is 1 year.
200
This type of annuity requires the policy owner to take a RMD.
What is qualified
200
A policy owner can only change the beneficiaries once per calendar year. True or False?
What is false.
200
What happens when an Ultra Secure contains at least $50,000?
What is .15% increase in the interest rate.
200
How much does the initial premium have to be on an Income Access policy?
What is $10,000.00
300
For qualified policies what is required at age 70 1/2?
What is required minimum distribution (RMD)?
300
All policies can be set up on SYSW. True or False?
What is false.
300
This policy can allow the owner to receive a 10%-20% increase in payments based on health conditions.
What is Income Access.
300
What policy has a minimum contribution of $1,200.00?
What is Bonus Flex Annuity (BFA)
400
True or false. On a non-qualified annuity there is no tax withholding upon withdrawal.
What is false.
400
Not all policies have an interest rate. True or false?
What is true.
400
Which policies receive a 10% free amount each year?
What is BFA and Ultra Secure.
400
A deferred annuity cannot exceed how much $?
What is $1 million
500
True or false. A Policy owner must take their RMD.
What is false.
500
What does COLA stand for?
What is cost of living adjustment.
500
This type of annuity can receive 7 months of payments at once but can only exercise this 3 times during the policies lifetime.
What is differed income protector (DIA)
500
How long after the policy start date do payments have to start on an Income Access and Ultra Income?
What is 13 months.
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