A
This type of account is offered by employers, allowing their employees to make contributions that are tax deductible into an investment account for retirement. Often times companies will offer a matching program as well.
401(k)
In the annuity world, what does GLWB stand for?
Guaranteed lifetime withdrawal benefit
This type of IRA is funded with pre-tax dollars
Traditional IRA
What is the only U.S. State that is one syllable?
Maine
What are our two Guaranteed period options on our Secure Saver/Pro product?
5 or 7 years
Roughly how many individual stocks make up the S&P 500 Index?
500
Which of the following would not be considered a guaranteed income source for life in retirement?
Social Security Benefits
WD's from a GLWB
Annuity payments from a 15 year period certain SPIA
Annuity payments from a 15 year period certain SPIA
This type of IRA is funded with after-tax dollars
Roth IRA
Name a firm/bank/relationship (non-BGA) who DOES NOT currently sell Aspirations?
*Check Product Grid*
What are the two avaiable income riders on our Aspirations product?
If I am 38 years old, what is the maximum salary deferral I can invest into my 401 (k) for tax year 2025?
$23,500
Which of the following type of annuity would not offer guaranteed principal protection?
Index annuity
Fixed Annuity
Variable Annuity
Variable Annuity
What is the criteria for 100% tax free withdrawals from a Roth IRA?
What Covington restaurant is known for their Tuesday "Steak Night" special?
Blinkers Tavern
With secure pay NH on Aspirations, what is the maximum annual WD% I can become eligible for should I qualify for the enhancement? (Single life payout)
Double your WD% up to 15%
This type of Retirement account is employer sponsored, as well as fully funded by the employer?
Pension Plan
How is the taxation on an annuity death benefit differ from the taxation on a life insurance death benefit?
The life insurance DB is tax free to the beneficiary. With an annuity, it is typically treated as ordinary income tax to the beneficiary.
In 2025, If I am 57 years old, what is the maximum I can contribute to my Roth IRA for tax year 2025?
$8,000
($7,000 and additional $1,000 allowed for anyone 50>)
What/Who was the most recent Protective Aquisition?
Shelter Point (Employee Benefits)
With Secure Pay Protector, these are the 4 advanced pay options that are now available (effective October 2024)
3, 5, 8, 10
How would you explain the difference between a mutual fund versus an individual stock?
-Mutual funds are like a basket/collection of individual stocks
-Managed by a professional money manager/fund manager
-Diversify your investment
What is the 1035 exchange scenario that is not allowed?
Annuity to life (for taxation on DB reasons)
For someone who was born in 1960 or later, what is the youngest age in which I can declare my social security benefit and what is the maximum age?
62 and 70
eligible for a higher annual payment the longer you wait
What is the name of the Bengals stadium?
Paycor Stadium
With Aspirations, we have 3 AIC categories.
During the accumulation period:
What is the minimum needed from Category 1?
What is the maximum I can do from Category 3?
10% min Cat 1
40% max Cat 3