Life Agent exam topics

The life general-knowledge section and Texas rules tested on the Life Agent exam.

Showing 221 to 230 of 294 articles · Page 23 of 30

Naming a Trust as Life Insurance BeneficiaryYou can name a trust’s trustee as the life insurance beneficiary so proceeds are managed under the trust terms. The trust as beneficiary is different …
Naming a Minor or a Class as Life Insurance BeneficiaryA policy may name a minor or a class such as children, but payment administration and class membership require care. A minor generally cannot personal…
Nonqualified Annuity Withdrawals Before AnnuitizationBefore a nonqualified deferred annuity is annuitized, a withdrawal is generally taxed earnings-first: gain comes out as ordinary income before the own…
Per Stirpes vs. Per Capita Life Insurance BeneficiariesPer stirpes generally passes a deceased beneficiary’s share down that beneficiary’s family branch, while per capita generally divides among surviving …
Policy Lapse vs. Surrender: Coverage and Cash ValueA lapse occurs when a policy terminates under its terms after required premiums or funding are not maintained. A surrender is the owner’s formal reque…
Preferred, Standard, and Substandard Life Insurance Risk ClassesLife insurers classify applicants to estimate risk and set premiums. Preferred classes generally reflect lower expected risk, standard reflects ordina…
Qualified vs. Nonqualified Retirement PlansA qualified retirement plan meets Internal Revenue Code requirements and receives specified tax treatment while compliant. A nonqualified arrangement …
Reading a Universal Life Annual StatementA universal life annual statement is a status report, not a promise that coverage will last for life. Check the account value, premiums credited, mont…
Reading an Annuity Surrender-Charge ScheduleAn annuity surrender-charge schedule shows the contract charge that may apply when you withdraw more than an allowed amount or surrender during specif…
Social Security Disability Benefits in Life Insurance PlanningSocial Security Disability Insurance (SSDI) pays eligible workers with a qualifying disability and sufficient covered work. It is not life insurance a…