Riders
It is Upon surrender; contract owner will receive an amount equal to at least the premium paid less the sum of all previous partial withdrawals.
Return of Premium Rider
What is Death Benefit?
The Accumulation Value as of the date of death plus interest at the then current rate described under Annuitization Option A from the date of death to the date of payment without deducting for a Withdrawal Charge, if applicable.
An annuitant is a person whose age/life expectancy is used to determine the amount of payout for a supplemental contract. The annuitant's life expectancy determines when the annuity payout occurs. Annuitants can also be the annuity owner or contract holder.
What are the five details on the Policy that the caller must provide when authenticating the account?
•Callers full name
•Policy Number
•Last 4 digits of Social Security Number
•Date of Birth
•Address of Record
What is Life Pro?
•Process all servicing transactions
•Generate correspondence
•Have a recorded history of the transactions.
Guaranteed Lifetime Withdrawal Rider
– provides the annuitant the ability to take occasional or regular withdrawals from their annuity, without a penalty fee
How many days that the Death claims are paid?
30 Days
It is the interest rate will never drop below the guaranteed rate.
What is a Fixed Annuity?
This Information Changes need notary or signature guarantee.
Address Change.
This tool was used to create work items to be routed to other areas for servicing.
LDS.
What is Single Premium Amount?
$100,000
It is No additional premiums and no withdrawals.
7 Year Contract.
What is an annuity trust?
Non-Qualified: A Trust may be the owner of the policy based on the answers on the Trust Acknowledgement and Certification form. If ownership is transferred to a Trust after issue, it would not be a taxable event as long as it’s the owner's trust. A Trust may be named as beneficiary of the policy.
Qualified: A trust cannot be the owner of an IRA. A Trust may be named as beneficiary of the policy.
What is Contingent Beneficiary?
•essentially designated as a backup plan in case something with your primary beneficiary doesn’t work out. Concerning your benefits, a contingent beneficiary is someone who becomes the beneficiary if your primary choice is unable to fulfill the role.
It is indexed to the appropriate policy then work items are created in LDS in order to route the documents to be reviewed and actioned.
On Base
This Rider can withdraw up to 100% of the annuity’s Accumulated Value
Terminal Illness Waiver
How many percent that the company will pay an additional interest rate, annually beginning on the 31st calendar day to the date the claim is paid.
10%
How much is the amount of Maximum Premium if without Company approval.
$1,000,000
Give the meaning of Revocable Beneficiary and Irrevocable Beneficiary.
•Revocable Beneficiary – can be changed at any time without the permission of that individual.
•Irrevocable Beneficiary – cannot be changed without the written permission of that individual.
This tool are used to Document receipt (on active claims).
Benekiva
This Rider is Available in 1st policy year.
Penalty-Free Withdrawal Rider
It is the appropriate Payee legally entitled to the proceeds.
The 30 calendar days.
How many percent in Income Account Bonus under WS Pro?
5%
It is the form that the policyholder will need to complete to Request for Beneficiary Change.
CAP 9010 (1002)
What is the Main tool that we can check the Surrender Value and Death Value of the Policy?
Life Pro.