IFSE Institute LLQP Exam With Confidence Using Practice Dumps

Disability insurance policies generally stipulate that the insurer must pay benefits within a specific timeframe following receipt of the proof of loss, typically within 30 days. This aligns with LLQP guidelines and common insurance practices, which require that insurers act promptly upon receiving all necessary documentation related to a claim. Coraline must provide her proof of loss, after which the insurer is obligated to start the payment process. The waiting period dictates when benefits start, but the insurer must pay within the specified period after receiving the required proof​​.

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In Ontario, married members of a defined benefit pension plan (DBPP) are typically required to provide at least a 50% survivor benefit to their spouse upon their death unless the spouse waives this right. LLQP materials covering pension plans indicate that this spousal protection is standard for defined benefit plans, and Maria's pension would provide at least 50% to Juan as the surviving spouse​​.

Options like reducing the survivor benefit below 50% are generally not permitted under Ontario pension law, and a waiver must be in place for any changes​.

Since Diu had designated her son Shan as the primary beneficiary and her niece Haru as the contingent beneficiary, the death benefit from the annuity will pass to Haru, the contingent beneficiary, after Shan's death. In annuity contracts, if the primary beneficiary predeceases the annuitant and no changes are made to the designation, the benefits will typically go to the contingent beneficiary. According to LLQP principles, a contingent beneficiary is entitled to receive the remaining guaranteed payments when the primary beneficiary is no longer able to do so​​.

Option A is incorrect as Shan’s widow is not mentioned as a beneficiary. Option B is incorrect as Shan's estate would not receive the benefits if a contingent beneficiary exists. Option D is incorrect as Diu’s estate would only receive the benefits if no beneficiaries were named.