Changes to a No-Lapse Universal Life (NLUL) policy, such as loans, partial withdrawals, changes in the death benefit, changes in scheduled premiums, may terminate the guarantee.

The party who applies for and owns the policy contract is the:

Term policies can generally provide the lifetime guarantees of a No-Lapse Universal Life (NLUL) product.

ATRA increased estate tax rates and reduced the estate, gift, and GST exemptions.

Why are insurance companies often able to credit higher amounts on Indexed Universal Life (IUL) Products than on Index Annuity (IA) products?

A life insurance policy is owned in the insured’s qualified retirement plan. A total of $50,000 was paid in premiums and at the insured’s death it had a cash value of $100,000 and a death benefit of $250,000. Assume that the insured was annually taxed on the reportable economic benefit cost (REB) for the amount of death benefit the insured could designate a beneficiary for and that upon the insured’s death $100,000 is paid to the plan and $150,000 is paid to the insured’s named beneficiary. How much of the death benefit will be subject to income tax?

Which of the following is a disadvantage of a current-assumption whole life policy?

The cost recovery rule for AL policies treats amounts received by the policyowner as:

The easiest, but least accurate policy comparison method to understand and use is the

For which of the following is the use of single premium whole life insurance LEAST appropriate?