IFSE Institute Related Exams
LLQP Exam
Pierre-Marc, aged 32, is a dentist with a rich clientele. His income is substantial. Five years ago, he purchased an “any occupation” disability insurance policy. Today he meets with Joseph, his life insurance agent, to determine whether this type of coverage is still adequate. What should Joseph tell him?
Gary owns a $500,000 T-20 life insurance policy with an accidental death rider of $250,000. His estate is named as beneficiary. Gary dies when his car falls into a lake. The autopsy shows that he had a heart attack, which caused his death and led to the accident.
What death benefit amount will the life insurance company pay Gary's estate?
Lily works for Cloud 9 Inc. She earned $120,000 in Year 1 and $125,000 in Year 2. Lily contributes 5% of her income into a defined contribution pension plan (DCPP), and this contribution is matched by the employer. Lily has unused contribution room of $15,000 and wants to know how much she can contribute to her registered retirement savings plan (RRSP) in Year 2.