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Variable Annuities
Fixed Annuities
FAST
Estate Planning
LIfe Insurance
100
The rider that locks in the greater of market gains or 5% on the contract anniversary for purposes of lifetime withdrawal calculations.
What is SecurePay Advantage?
100
The age you must attain before taking withdrawals from an annuity in order to avoid the 10% IRS penalty.
What is 59 1/2?
100
The FAST equivalent to a 6 minute timer.
What is QuickFAST?
100
Property placed in the care of one person for the benefit of another.
What is a trust.
100
paying for the policy over a short period of time, for instance 10 or 15 years.
What is Short pay?
200
The term for a benefit base increase due to market gains.
What is a step-up?
200
The process of converting an annuity investment into a series of periodic income payments.
What is annuitization?
200
Investors Life Stage cross referenced with risk tolerance.
What is portfolio objective?
200
A person who has legal authority and a duty to act on behalf of a minor or mentally incompetent person (can be appointed in a will).
What is a guardian?
200
In order for life insurance to remain classified as life insurance for income tax purposes, the death benefit must be a certain percentage higher than the cash value.
What is the IRS Corridor?
300
9% is the current rate on this popular feature available on the Protective Values Advantage A-share variable annuity.
What is the 6 month DCA?
300
The option available to the beneficiary of an annuity to receive the death benefit proceeds as periodic payments over their life expectancy rather than a lump-sum.
What is stretching?
300
The FAST tool you are might be licensed to use but can not by regulation.
What is Long Term Care?
300
A document where the signer may direct that no artificial measures be employed to postpone his or her death, is also sometimes called a "directive to physicians."
What is a living will?
300
Compliance requirement for client who chooses to utilize Protective's option of Express Underwriting in lieu of the traditional underwriting process.
What is Protective Express Underwriting Acknowledgement Letter?
400
This specific condition will increase the annual withdrawal amount on a Protective income rider to 10%.
What is nursing home admission (or can't perform 2 of 6 ADLs?
400
The tax code that allows for the tax-free exchange between insurance related products.
What is a 1035 exchange?
400
A highly trained and specifically organized group to assit the FA with high networth clients.
What is The Client Consultation Group (CCG)?
400
Why do we have slayer's statutes?
So that we don't go around killing people we may potentially inherit from.
400
Unique to fixed annuities, adjusts the account value of the contract to reflect current interest rates in the event of surrender before maturity, assessed in addition to any surrender charges.
What is Market Value Adjustment (MVA)?
500
The 0.4% annual credit that starts in year 8 that lowers the M&E fees on the Protective Values B-Share annuity.
What is Persistency Credit?
500
The maximum number of months that income payments from an immediate annuity may be delayed.
What is 12 months (1 year)?
500
A line that is created using the optimal portfolios from the risk/return graph.
What is the efficient frontier?
500
The interest a beneficiary has in property contained in a trust (the right to benefit from it but not the right to manage it).
What is equitable title?
500
they are primarily used for statutory regulation and federal taxation purposes. The tables are used to establish statutory reserves, minimum cash-surrender values, and the maximum mortality rate that can be levied within a universal life policy. Within the tax arena, the tables are used to establish the maximum level of funding permissible in order to qualify as life insurance, and they are used to establish the funding threshold for modified endowment contracts.
What is the Commissioner's Standard Ordinary (CSO) mortality table?