IFSE Institute Related Exams
LLQP Exam
Last month, Suzanne purchased a life insurance policy from a local agent. The agent told her that the policy would accrue a cash value that she could draw from in her retirement years and that the premium would never increase. After recently meeting with a close friend, who is a retired insurance advisor, she was dismayed to learn that what was sold to her is in fact a term policy with no cash value. If Suzanne wishes to make a formal complaint against the agent, which authority can assist her in doing so?
Christie’s savings and investment assets include the following:
RRSP: $100,000 in bond funds
Home valued at: $400,000
Defined benefit pension plan (DBPP) valued at: $50,000
Chequing account: $6,000
Savings account: $5,000
Her liabilities include:
Credit card debt: $20,000
Balance of mortgage: $200,000
Based on the information provided, what should Christie’s priority be?
The primary and secondary beneficiaries of Rachel and Chad’s joint first-to-die permanent life insurance policy are each other and their adult children, respectively. Within a year of Rachel and Chad’s divorce, Rachel unexpectedly passes away. The policy beneficiaries remained as originally designated. Whose claim will be paid by the insurer?