Computer Science > QUESTIONS & ANSWERS > XCEL Ohio Proctor Questions and Answers Graded A+ (All)

XCEL Ohio Proctor Questions and Answers Graded A+

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XCEL Ohio Proctor Questions and Answers Graded A+ Under a Modified Endowment Contract, what are the likely tax consequences? ✔✔•Pre-death distributions will become taxable To receive proceed ... s from a death benefit, a minor ✔✔•must have an appointed guardian Under a Modified Endowment Contract, what are the likely tax consequences? ✔✔Pre-death distributions will become taxable To receive proceeds from a death benefit, a minor ✔✔must have an appointed guardian A provision that allows a policyowner to temporarily give up ownership rights to secure a loan is called a(n) ✔✔collateral assignment An annuitant is guaranteed to NOT outlive their benefits with a(n) ✔✔Guaranteed lifetime withdrawal benefit Which type of life insurance offers flexible premiums, a flexible death benefit, and the choice of how the cash value will be invested? ✔✔Variable universal policy Dorian exercised a nonforfeiture option by using his life policy's cash value to purchase an extended term insurance option. When the term insurance expires, ✔✔the protection ends A life insurance policy that has premiums fully paid up within a stated time period is called ✔✔limited payment insurance insurance represents the process of risk ✔✔Transference People with higher loss exposure have the tendency to purchase insurance more often than those at average risk. This is called ✔✔adverse [Show More]

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