Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
13 Cards in this Set
- Front
- Back
What are the advantages of segregated funds
|
- Guarantees - growth secured by reset - funding flexibility through ongoing deposits - Guaranteed income - professional management - deversification - Tax benefits of allocations - Switches between funds - ability to withdraw (redemption) - exemption from probate fees - investor protection - protection from creditors - absence of medical underwriting - right of rescission |
|
What formula does actuaries use to calculate life insurance premiums?
|
Present value formula
|
|
What is another name for segregated funds
|
I.V.I.C - Individual variable insurance contract
|
|
Guarantees
|
The guarantees is that you will get back at least 75% at either maturity or death.
|
|
Growth secured by reset
|
IF you have a gain and you want to lock in the gain you can do a reset (the only set back is that your maturity date starts again at 10 years)
|
|
Which in between mutual funds and segregated funds are more tax favorable?
|
segregated funds are more tax favorable. loss and gains flow through to the client and in mutual funds only gains are calculated in
|
|
Exemption from probate fees
|
If you name a beneficiary it will be completely probate free. Not taxible
|
|
Investor protection
|
|
|
Creditor protection
|
segregated funds if you left to a beneficiary then the creditors can chase after the estate.
|
|
is there medical uwing with segregated funds
|
no
|
|
right of rescission
|
is you change your mind within the 1st two days you can get all your money back after that you will get market value |
|
What are the types of segregatd funds
|
Cash fixed income equity commodity other |
|
|
|