Section 529 plans - Study guides, Class notes & Summaries

FICEP Part 2 Latest Update Graded A 401k Plan A plan which allows employees to make tax-deferred contributions to retirement savings accounts. Many employers match these contributions at a specified ratio to help retirement savings build faster. Beneficiary The person or persons who are designated to receive the amount of the death benefit if the policyholder dies. Cafeteria Plan Tax-qualified flexible benefit plans that are offered by participating employers. It was created by the internal Re...

PSI Practice Exam - Life Insurance| Questions and Answers, A+ Rated| Latest 2023/2024 PSI Practice Exam - Life Insurance| Questions and Answers, A+ Rated| Latest 2023/2024 1 For an individual long-term care policy there is an annual dollar limit for tax deductions that is based on which of the following? 1. age 2. cost of care 3. policy value 4. premium cost 4 The group conversion option is allowed for all of the following EXCEPT 1. termination of the master policy . 2. loss of...

Life Insurance and Health Insurance Exam Questions and Answers 100% Pass Section 529 Plans - Answer- - state provided - can be funded by after tax dollars - can pay prepaid tuition - All earnings exempt from federal taxes - If withdrawn for unqualified withdrawl, 10% penalty Roth IRA - Answer- private retirement plan that taxes income before it is saved, but which does not tax interest on that income when funds are used upon retirement Distributions don't have to start before 70.5 401...

Life Insurance and Health Insurance Exam Questions and Answers 100% Pass Section 529 Plans - Answer- - state provided - can be funded by after tax dollars - can pay prepaid tuition - All earnings exempt from federal taxes - If withdrawn for unqualified withdrawl, 10% penalty Roth IRA - Answer- private retirement plan that taxes income before it is saved, but which does not tax interest on that income when funds are used upon retirement Distributions don't have to start before 70.5 401...

PSI: LIFE, ACCIDENT, AND HEALTH PRACTICE EXAM ALREADY PASSED Under the misstatement of age or gender provision, what happens if it is determined at death that the insured's age or gender was misstated on a life insurance policy application? Benefits are adjusted to an amount that the premium would have purchased at the correct age or gender. Which of the following must be given to the insurer within 20 days after occurrence or commencement of any loss covered by the policy, or as thereafter a...

LA Life, Health & Accident Insurance Series 103 Practice Exam 1. What type of insurance should a company purchase if it wants to insure the life of its CEO? Key person insurance A basic vision care package includes all of the following EXCEPT Safety glasses. A consumer report used to determine eligibility for insurance may include all of the following EXCEPT Medical underwriting exam. A group conversion option may be used in all the following instances EXCEPT A life-changing event, ...

all of the following are ownership rights EXCEPT: A: changing the beneficiary of the policy B: borrowing funds against cash value C: switching the policy from on insured to another D: assigning all of the rights of the policy to another person C: switching the policy from on insured to another which of the following is characteristic of a non qualified plan: A: defined vesting schedule B: plan established by the employer C: plan does not meet federal guidelines for tax benefits D...

PSI - NY Life, Accident and Health Practice Exam 17-55 Already Graded A Which policy provision permits the policy owner to take a specified number of days to examine the contract, and allows for cancellation and a full refund if the policy owner rejects the terms or costs? Free Look When will a policy pay on a UCR basis? When particular benefits are not listed on a payment schedule Which type of rider reimburses health and social service expenses incurred in a convalescent or nursing home fac...

For an individual long-term care policy there is an annual dollar limit for tax deductions that is based on which of the following? 1. age 2. cost of care 3. policy value 4. premium cost - 1 The group conversion option is allowed for all of the following EXCEPT 1. termination of the master policy. 2. loss of group coverage due to termination of employment. 3. upon the loss of eligibility on the part of a class of insureds. 4. during the annual benefits enrollment period. - 4 What ...

PSI - NY Life, Accident and Health Practice Exam 17-55, Just my cards + 199+ 75 (TEST) (LOT)|Complete Solution, A+ Rated|Latest 2023/2024 PSI - NY Life, Accident and Health Practice Exam 17-55, Just my cards + 199+ 75 ( TEST) (LOT)|Complete Solution, A+ Rated| Latest 2023/2024 Which policy provision permits the policy owner to take a specified number of days to examine the contract, and allows for cancellation and a full refund if the policy owner rejects the terms or costs? Free Loo...