Whole Life, Whole Lotta Protecton
The health lookback period on a 13z/29k
What is 3 years?
FPBIA stands for this.
What is Flexible Premium Bonus Indexed Annuity?
The two inflation options available on the LTCF plan.
What is 3% and 5%?
The amount the insured must pay out-of-pocket before the insurance company begins to pay on a claim.
What is a deductible?
Calculated on the principal and accumulated interest, meaning you earn interest on your interest.
What is Compound Interest?
Maximum coverage amount for a Graded Benefit Whole Life policy.
What is $30,000?
The four crediting options for the FPBIA.
What are S&P monthly avg w/ par, S&P point to point w/ cap, Barclays point to point w/ cap, and fixed?
Total benefits that can be paid for a family member for all covered expenses for all period of expenses.
What is the Lifetime Maximum Benefits?
This principle requires that the insured have a financial interest in the subject of the insurance to prevent profiting from a loss.
What is Insurable Interest?
The difference between your total assets and liabilities.
What is Net Worth?
The four crediting options on a 19F.
What are S&P monthly avg w/ par, S&P point to point w/ cap, S&P point to point w/ par, and fixed?
Policy year at which lifetime income withdrawals can begin on a GLIA for bonus 1% to apply.
What is year 11 or more?
Minimum number of days a client has to have been released from the hospital to health qualify for the LTCF.
What is 90 days?
These six basic self-care tasks—bathing, dressing, eating, toileting, transferring, and continence—are used to determine if someone qualifies for LTC benefits.
What are Activities of Daily Living (ADLs)?
Describes a product or account that meets specific Internal Revenue Service (IRS) requirements to receive preferential tax treatment, meaning certain earnings or contributions are not taxed until a later date or are entirely exempt from taxation.
What is Tax Qualified?
The medical underwriting orders needed for a 67 y/o for 250K UL.
What are Paramed, Blood, Urine, and Irix?
The maximum benefit period for Enhanced Benetfit withdrawals on a GLIA+
What is 2 years?
If an Annual Compound Benefit Option is not chosen, and the Policy has been in force for three years, We will offer to increase the Maximum Daily Benefits (Maximum Monthly Benefit and Maximum Benefit will also increase proportionally) by the amount shown on the Policy Schedule without providing evidence of insurability.
What is the Guaranteed Purchase Option?
This key annuity feature allows the contract owner to receive payments without fully annuitizing, but may involve surrender charges or market value adjustments if over a certain amount.
What are Systematic Withdrawals?
An investment fund that holds a collection of assets, such as stocks, bonds, or commodities. Typically divided into shares that trade on a stock exchange throughout the day, just like a regular stock.
What is an Exchange Traded Fund (ETF)?
Two riders available on 19F for issue age 65+
What are (any 2 of the following): Accidental Death bene, Primary insured term, Additional insured term, Terminal illness accelerated benefit, or Chronic illness accelerated benefit?
The new rider available for the GLIA.
What is the Enhanced Death Benefit rider?
Amount of time for premiums paid by a T65 applicant who selected the Return of Premium Upon Death Indemnity Benefit for their beneficiary to receive 100% of premiums paid in
What is 15 years?
3 types of accounts that agents alone cannot write business from
What are (any 3): IRA stocks/brokerage/advisory, IRA bonds, IRA mutual funds, IRA variable annuities, 401ks, NQ stocks/brokerage/advisory, NQ bonds, NQ mutual funds, NQ variable annuities, variable life?
A tax-advantaged retirement plan for public school employees, charity workers, and church employees. These plans are specific to non-profits and government entities.
What is a 403b?