IFSE Institute Related Exams
LLQP Exam
(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?)
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?
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?