LLQP Exam Dumps : Life License Qualification Program (LLQP)

Pete is the owner of Blenheim News Tribune Inc, a company responsible for producing the local newspaper. He has owned the family-run business for 30 years, and he currently employs 10 people. Peter wants to offer a group benefits plan to his staff, so he meets with Daphne, a licensed insurance agent to go over some options. He would be willing to cover 75% of each employee’s required premium and ask that each employee be responsible for their remaining 25%.

Based on the information provided, which statement is true regarding Blenheim News Tribune Inc's group insurance premiums?

Ashley meets with her life insurance agent for a needs analysis. She wants her two kids, currently nine and seven, to be well provided for in the event of her untimely death. Ashley is also concerned about the tax liability that her RRSPs will create for her children. Her need for life insurance is determined to be $800,000 to support the children and $50,000 for the tax liability.

Ashley decides to purchase a term life insurance policy to provide for her young children if need be, and a permanent policy for the tax liability.

How should Ashley set up the beneficiary designations?

Chloe is a newly licensed financial security adviser. She is diligently learning about the profession and wants to do her job properly. She wonders when she is required to renew her certificate.

Which of the following answers is CORRECT?