The Need For Protection And Sources Of Provision

Question 1

What are the 3 main sources of support?

Answer 1

Yourself
Employer
State

Question 2

What is death in service usually set at?

Answer 2

A multiple of the salary often x4

Question 3

What 2 prominent changes came in at the end of 2012 due to the retail distribution review? (RDR)

Answer 3

Advisors making personal recommendations to be QCF lvl 4

The majority of financial instruments in the Uk are to be sold via fee model rather than commision.

Question 4

Can commission be earned on protection?

Answer 4

Yes, this was an exclusion from the RDR.

Question 5

How long does MPPI usually pay out for?

Answer 5

2 years

Question 6

What are the 3 types of business protection?

Answer 6

Key person insurance
Shareholder/partnership protection
Loan protection

Question 7

When were premiums equalised between the sexes?

Answer 7

21st December 2012

Question 8

What type of policy is one that offers a discount for fitness?

Answer 8

Preffered life