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Wendy Wall
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Decks in this class (56)
Licensing Process
To qualify for a license an appli...,
Who does have to take written exam,
What is a producer
22
cards
License Continuance + Renewal
How long is a producers license v...,
Before refusing to renew a licens...,
A producers license must contain
19
cards
Risk + Loss
Risk means,
What is pure risk,
What is speculative risk
23
cards
Insurance Providers
Stock insurance companies,
Mutual insurance companies,
Other private insurance providers
22
cards
Insurance Producers
Agents vs brokers,
Laws of agency the insurer as pri...,
The producer insurer relationship...
5
cards
Insurance Contracts
List the 5 basic elements of a le...,
Competent parties,
Contract of adhesion
13
cards
NY State Regulation
Superintendent of insurance gener...,
Regulation of insurerscertificate...,
Insurer solvency sec 307
19
cards
Trade Practices
Misrepresentation sec 2123 reg 64...,
False advertising sec 2603,
Defamation of insurer sec 2604
11
cards
Insurable Interest
What is insurable interest,
Insurable interest and life insur...,
Insurable interest in personal re...
10
cards
Classes of Policies
Classes of life insurance policies,
Group insurance,
Individual insurance
17
cards
Insurance Premiums
Mortality,
Interest,
Expenses
8
cards
Third-Party Policy Ownership
How is 3rd party ownership used b...,
How is 3rd party ownership used b...,
What is the bring back rule
5
cards
Producer Responsibilities
Traditional net cost method,
Interest adjusted net cost method,
Replacement
34
cards
Underwriting
Sources of underwriting information,
Agent producer report,
Attending physician statement
20
cards
Term Life Insurance
General insurancelife insuranceli...,
Level term insurance
14
cards
Whole Life Insurance
Whole life insurance and products,
Ordinary straight whole life,
Guaranteed cash value
21
cards
Flexible Permanent
Flexible permanent life insurance,
Adjustable life insurance,
Universal life insurance ul
20
cards
Specialized Life Insurance
Joint first to die life insurance,
Survivorship second to die life i...,
Juvenile life insurance
10
cards
Endowments
Endowment contract vs life policy,
Uses of endowments,
Endowments are not modified endow...
3
cards
Group Life Insurance
Characteristics of group life,
Master policy and certificates of...,
Group life standard policy provis...
10
cards
Required, Standard, or Common Policy Provisions
Title page insuring clause,
Entire contract,
Ownership rights
17
cards
Exclusions and Prohibitions
Standard policy exclusions,
Aviation and hazardous occupation...,
Suicide provision
4
cards
Beneficiaries
Beneficiary designation options,
Managing multiple beneficiaries,
Per stirpes vs per capita
9
cards
Options + Riders
Options and riders,
Cash surrender option,
Extended term insurance option
5
cards
Policy Loan and Withdrawal Provisions
Cash value loans,
Automatic premium loan provision,
Withdrawals
4
cards
Policy Dividend Options
Dividend basics,
Dividend options,
Buy paid up additions
10
cards
Settlement Options
Settlement options,
Types of settlement options witho...,
Lump sum cash payment option
15
cards
Policy Riders for Disability Protection
Waiver of premium rider,
Definition of total disability,
Universal life disability waivers
5
cards
Riders Covering Additional Insureds
Childrens term rider,
Family term rider,
Question 1
5
cards
Living Benefits Riders
Accelerated benefits riders,
Qualifying for accelerated benefits,
No special exclusions and restric...
8
cards
Other Common Policy Riders
Guaranteed insurability rider,
Guaranteed insurability and unive...,
Accidental death benefit rider
7
cards
Personal Uses of Life Insurance
Survivor protection,
Create an estate,
Accumulate cash for living benefits
13
cards
How Much Life Insurance to Buy?
Human life value approach,
Needs approach,
Determining lump sum needs at death
4
cards
Business Uses of Life Insurance
Insured buy sell agreements,
Cross purchase buy sell agreements,
Entity buy sell agreement
11
cards
Annuities
Annuities,
Annuity accumulation period vs an...,
Tax deferred accumulation
8
cards
Parties to an Annuity
Annuity owner,
Annuitant,
Beneficiary
4
cards
Immediate vs. Deferred
Immediate annuities,
Deferred annuities,
Deferred annuity values are nonfo...
6
cards
Annuity Income Payment Options
Life income payment options,
Straight life income,
Life income with refund guarantee
9
cards
Fixed Annuities
Fixed annuities,
Guaranteed minimum and current de...,
Two tiered fixed annuities
6
cards
Variable, Indexed, and Market-Value Adjusted Annuities
Variable annuities,
Variable annuity accumulation units,
Variable annuity annuitization
12
cards
Annuity Suitability and Uses
Annuity suitability,
Individual uses of annuities,
Use annuities to fund life insurance
9
cards
Taxation of Individual Life Insurance
Taxation of premium payments,
Taxation of life insurance death ...,
Transfer for value rule
16
cards
Taxation of Group Life Insurance
Group life insurance plan ownership,
Irc section 79,
Employer deduction
3
cards
Taxation of Annuities
Accumulation stage tax deferred a...,
Distributions during accumulation...,
Annuity withdrawals before age 59
8
cards
Tax-Free 1035 Exchanges
Section 1035 exchange,
Allowable 1035 exchanges,
Key points
3
cards
Social Security
Social security act,
How social security is funded,
Social security benefit eligibility
6
cards
Types of Social Security Benefits
Determining benefit amounts,
Social security retirement benefits,
Retirement benefit earnings test
7
cards
Qualifies Employer Plans
Qualified retirement plans,
Qualified vs nonqualified employe...,
Tax incentives encourage qualifie...
11
cards
Types of Qualified Employer Plan
Defined benefit plans,
412 i plan,
Defined contribution plans
16
cards
Individual Retirement Plans
Traditional iras,
Traditional ira participation,
Traditional ira deductions
12
cards
Section 529 Plans
Prepaid state tuition plans,
College savings plans
2
cards
Life Insurance Basics
Regulation of life insurance and ...,
Regulation of variable life sec f...,
Specialized policieslife insuranc...
27
cards
Regulation of Life Insurance Policies
Required provisions in life insur...,
Assignment sec 3203,
Entire contract secs 3203 a 4 3204
14
cards
Regulation of Annuities
Required provisions of annuitiesg...,
Nonforfeiture benefits sec 4220 4223,
Guaranteed minimum withdrawal ben...
5
cards
Life Insurance Settlements
Life settlement contract sec 7802...,
Life settlement broker sec 7802 j,
Life insurance applications sec 7812
10
cards
GENERAL ADD-ONS
Independent agency system,
Which statement regarding the con...,
What is the only part of an annui...
64
cards
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