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Trivia Night Flashcards | StudBud
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Trivia Night
Trivia Night
15 terms
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StudBud Administration
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11 plays
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Flashcards
15 cards
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Practice quiz
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Host live
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Questions
15
Answers
1
What medical issues do NOT qualify you to use your living benefits?
Terminal
Infectious
critical
Chronic
2
A 60 year old is looking for coverage for final expenses, which policy is his best option.
Mutual Whole Life
IUL (Indexed Universal Life)
30 year Term
Whole Life
3
We look at a person's assets to determine insurability.
True
False
4
Prospect has small children, is married, is a homeowner, business owner and has debt. His best options for coverage is
Mutual Whole Life
Whole Life
Term
IUL
5
Which of the following is NOT a benefit of the IUL
Protected from the market
Tax Advantaged
Growth Potential
Will Prep
6
A conservative burial death benefit is usually....
$10,000
$12,000
$7,000
$15,000
7
Term LB is used mainly for
Debt protection
Retirement
Saving
Income protection
8
A young professional has many goals in the near future for investing, an IUL is his best option.
True
False
9
An IUL is composed of how many components?
2
3
5
4
10
An FIA is a contract that guarantees all the below except
Principal Protection
Living benefits
Tax-deferral growth
Indexed strategy
11
Which tax code allows for tax free cash accumulation?
101A
72E
7702
7320
12
This service is used for investing and saving
Fixed Indexed Annuity
IUL-Indexed Universal Life
Everest Concierge
Term LB
13
What is not a use for an IUL?
Sacvings
Funeral plan
Emergency Funds
college plan
14
A term with living benefits is a permanent life insurance
True
False
15
An IUL grows tax free
False
True
