Ga lifehealth insurance - Study guides, Class notes & Summaries

Attained Age - Answer-insured's age at the time the policy is issued or renewed. Cash Value - Answer-A policy's savings element or living benefit. Face Amount - Answer-The amount of benefit stated in the life insurance policy. Fixed life insurance - Answer-contracts that offer guaranteed minimum or fixed benefits. Deferred - Answer-with-held or postponed until a specified time or event in the future. Endow - Answer-the cash value of a whole life policy has reached the contractual face amo...

GA Life/Health Insurance Exam Complete Questions And Answers Rated A+ GA Life/Health Insurance Exam Complete Questions And Answers Rated A+

GA Life/Health Insurance Exam

GA Life/Health Insurance Exam Questions And Verified Answers

A 60-year-old participant in a 401(k) plan takes a distribution and rolls it over to an IRA within 60 days. Which of the following is true? a) No taxes are due since the plan participant is over age 59 1/2. b) There is a 10% early withdrawal penalty. c) The amount distributed is subject to ordinary income tax. d) The amount of the distribution is reduced by the amount of a 20% withholding tax. - D. The amount of the distribution is reduced by the amount of a 20% withholding tax. Distr...