All of the following are factors contributing to the cash value in an insurance policy EXCEPT?
the face amount of the policy
duration and amount of premiums paid
inflation rate and rate of unemployment
how long the policy has been in force
the face amount of the policy
duration and amount of premiums paid
inflation rate and rate of unemployment
how long the policy has been in force
Answer:
inflation rate and rate of unemployment
The cash value in the policy is determined by several factors: the face amount of the policy; duration and amount of premiums paid; how long the policy has been in force.
Category: 2-15 Life & Health Insurance: Life Insurance Policies
inflation rate and rate of unemployment
The cash value in the policy is determined by several factors: the face amount of the policy; duration and amount of premiums paid; how long the policy has been in force.
Category: 2-15 Life & Health Insurance: Life Insurance Policies
True or False? Personal and Business Life insurance premiums paid are never tax deductible.
True
False , though generally true
True
False , though generally true
Answer:
False, though generally true
Personal and Business Life insurance premiums paid ARE NOT tax deductible (generally).
Category: 2-15 Life & Health Insurance: Premiums and Proceeds
False, though generally true
Personal and Business Life insurance premiums paid ARE NOT tax deductible (generally).
Category: 2-15 Life & Health Insurance: Premiums and Proceeds
True or False? Variable contracts have indeterminate values of assets held in a separate account.
True
False
True
False
Answer:
True
Indeterminate value contracts means annuity contracts, life insurance contracts, and contracts upon the lives of beneficiaries under life insurance contracts when such annuities or contracts provide variable or indeterminate benefits, values, or premiums.
Category: 2-15 Florida Laws and Rules Variable Contracts
True
Indeterminate value contracts means annuity contracts, life insurance contracts, and contracts upon the lives of beneficiaries under life insurance contracts when such annuities or contracts provide variable or indeterminate benefits, values, or premiums.
Category: 2-15 Florida Laws and Rules Variable Contracts
