LIFE AND HEALTH INSURANCE (XCEL SOLUTIONS) EXAM STIMULATOR QUESTIONS AND VERIFIED SOLUTIONS A+ GRADED.
Which of these is NOT considered to be a purpose of an annuity?
- Annuities are intended to create an estate
- Annuities are intended to liquidate an estate
- Annuities are intended for the tax-free growth of principal
- Annuities are intended to distribute accumulated principal
✔✔Annuities are intended to create an estate
All of these are purposes of an annuity except "Annuities are intended to
create an estate
Fraternal Benefit Society has each of the following characteristics
EXCEPT
- Incorporated
- Without capital stock
- Exist For profit
- Exist for the benefit of its members
✔✔Exist For profit
Fraternal Benefit Societies are not-for-profit entities which exist for the
benefit of its members.
Which of these is NOT a qualifying event for Medicare?
- On Social Security disability for over 2 years
- Kidney failure
- Age 65 or older
- Falling below the federal poverty level
✔✔Falling below the federal poverty level
All of these are qualifying events for Medicare EXCEPT being poverty
stricken.