LLQP Exam Dumps : Life License Qualification Program (LLQP)

(Gregory and Vanessa married at an early age and had three children, who are now in their forties: Eve, Rick and Max. When the couple retired five years ago, they purchased a joint life annuity. They also had a will drawn up naming the three children as equal beneficiaries of their estate. The will specifies that Eve will act as executor of the estate.

Last week, Gregory and Vanessa both died in a car accident.

Who could make a death claim as regards the annuity?)

Lacy is reviewing her life insurance policy with Paul, her financial advisor, because she wants to better understand its cash value and to take advantage of tax sheltering. She purchased a $200,000 Universal Life policy 3 years ago and has minimum funded the policy on an annual basis. Lacy is used to investing and is familiar with the investment world. In addition, her universal life policy has the level protection death benefit, and she has no intention of withdrawing the deposit amount, as she wishes to benefit from the tax exemption. Lacy is prepared to deposit a large lump sum of cash into her policy that she received from an uncle that passed away.

Before completing the deposit, what should Paul inform Lacy about?

Dennis, aged 56, is an actuary. He owns both a disability insurance policy and a renewable term life insurance policy. His life insurance policy includes a supplementary benefit: the waiver of premium for total disability benefit. Following a motorcycle accident, Dennis suffers a traumatic brain injury. His disability benefits begin after the waiting period. While receiving those benefits, his term life insurance policy comes up for renewal.

How will the supplementary benefit included in that policy help Dennis?