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…