Basic Life
Bankers Graded Whole Life policy code
What is the 29k?
19f or 20f
What is the plan code?
$100,000
What is the minimum face amounts?
Ages 18-65, Face amounts under $150k
What are the qualifications for easy issue UL’s?
5% bonus
What is the bonus for the fixed rate FPBIA?
The maximum face amounts you can write.
What are $30,000 and $50,000?
The additional exam that may be needed to approve application
What is Paramed?
In the last year of a Term life policy, the policy with automatically renew at rate for the new attained age.
What is a guaranteed renewable term life?
Ages 18-65, Face amounts $499,999 or less.
What is the qualification for clearpath easy underwriting?
GLIA and FPBIA
What are our fixed indexed annuities?
A one time payment of double the written face amounts.
What is the accidental dental benefit rider?
Ages 18-65 with a face amount under $150k
What is an easy issue UL?
Age 60
What is the last Chance to write 20 year term?
Paramed or Exam one
Whom are our approved brokers for medical exams?
59 1/2
At what age does penalty free withdrawals “generally” start?
Table D and Table H
What are the assumed mortality tables for basic life products?
The largest amount you can write without approval.
What is $2,000,000?
Year 5 of a term policy
What is the Conversion deadline?
Our system for determining risk level for fully underwritten life products.
What is Evaluate?
(MUST BE SUBMITTED PRIOR TO APPLICATION APPROVAL)
The minimum amounts you must withdraw from your retirement accounts each year.
What is a Required Minimum Distribution(RMD)?
150 daily units of Insulin
What is the maximum insulin units allowable for a 29k?
A Life insurance policy that has lost its tax benefits
What is a MEC?
A rider that has a maximum pay out of $10,000.
What is the child term rider?
Where should you find the build charts and are they all the same for each policy?
BSPN, Agent guides, E-learner, Evaluate, Ask Rodd
DOUBLE BEOPARDY: What is the difference between qualified vs non-qualified accounts?
Qualified plans offer tax benefits to both the employee and the employer. The employee either defers taxes (with a traditional plan) or pays them upfront in order to withdraw them tax-free in retirement (with a Roth plan), while the employer can deduct any contributions it makes. Nonqualified plans do not have these tax advantages.