Life Agent exam topics
The life general-knowledge section and Texas rules tested on the Life Agent exam.
Showing 51 to 60 of 294 articles · Page 6 of 30
- Qualified vs. Nonqualified Annuity ContractsA qualified annuity is held within a tax-favored retirement arrangement, such as an eligible employer plan or IRA, while a nonqualified annuity is gen…
- Texas Group Life Insurance: Required Policy ProvisionsTexas Insurance Code Chapter 1131 requires covered group life policies delivered in Texas to contain the statutory provisions or permitted equivalents…
- Annuity Exclusion Ratio: Taxable and Tax-Free PortionsFor an annuity paid under the General Rule, the exclusion ratio is the annuitant’s adjusted investment in the contract divided by the expected return.…
- Annuity Surrender Charges vs. Early-Distribution TaxAn annuity surrender charge is a contract charge the insurer may deduct when an owner withdraws or surrenders during a stated period. The federal 10% …
- Texas Life Settlements: Roles, Rules, and Exam DistinctionsA Texas life settlement is generally a transfer of an in-force life policy by its owner to a settlement provider for value below the policy’s net deat…
- Tax on Life Insurance Cash-Surrender ProceedsIf you surrender a life insurance policy for cash, the amount received above your unrecovered cost in the policy is generally taxable as ordinary inco…
- Section 1035 Life Insurance ExchangesSection 1035 can allow gain or loss to go unrecognized when an owner exchanges certain life insurance, endowment, annuity, or qualified long-term-care…
- When a Life Policy Loan Becomes TaxableA loan from a life insurance policy that is not a modified endowment contract is generally not treated as taxable income while the policy stays in for…
- Are Life Insurance Premiums Tax-Deductible?For an individual buying life insurance for personal protection, premiums are generally not deductible on a federal income-tax return. A business may …
- Payor Benefit Rider: Premium Waiver on a Juvenile PolicyA payor benefit rider can keep a juvenile life policy in force by waiving or paying premiums if the designated adult payor dies or meets the rider’s d…