Get a life
The maximum amount of death benefit on a 13z
$50,000
This amount is Medicare Part B deductible for 2023
$226
The name for amount of time before an extended care policy would start to pay claims
Elimination period
The amount of bonus you get when you purchase a PBIA
3%
Number of years for return of premium rider on a critical illness policy
20 years
The difference between “face amount” and “death benefit“ on a life insurance policy
The amount the policy was written for vs. what it will pay out today
Type of Medicare plan that combines health, prescription, dental, vision, and hearing.
Medicare advantage plan or MAPD
Bankers STC policy GR-N565 cover clients for assisted living facilities, adult day care, nursing homes, and _______
Home health care
Interest growth where the taxes are paid only upon distribution
Tax deferred growth
The formula to go from annual premium to monthly
(annual x 0.08583) +$1
The percentage of death benefit that the ABR on a 19F would pay monthly
3%
The amount of time someone gets guaranteed issue rights for Medicare after losing credible coverage
63 days
Minimum and maximum age you can get a short term care policy
Ages 50-79
$ that have not been taxed
Qualified
The lake that Chris lives on
Thornapple Lake
These are three things that would disqualify someone from getting and easy issue 19F.
Not on PPSP
Beneficiary not an immediate family member
Can’t answer “no” to all health questions
Client is 65 or over
Replacing other life insurance
Face amount over 150K
Amount of dental on a UHC HMO DSNP. (Not the HMO DSNP lookalike)
$3000
When you use & from RMD’s to pay for your extended care policy
Preferred Funding
The percentage of the $ in a bankers life glia will pay annually when the lifetime income rider is turned on
5%
Kim’s puppy dogs name
Lucy
What the beneficiary receives if a client with a 29K dies in the second year of owning the policy.
120% of 2 years annual premium
Quarterly OTC allowance for a Humana H5216-306 Medicare advantage plan
$50
The percentage discount a couple gets if they are married and both purchase a long term care policy
35%
The percentage of penalty for an annuity surrender in year 5 of the contract
8%
Bankers started their “forget me not days” in this year
2003