With Guaranteed Lifetime Income, the policyholder does not have to "annuitize" to receive guaranteed lifetime income.
A.
True
B.
False
2.
With a Guaranteed Lifetime Income rider, a client can keep their right to have access to their principal AND still receive a guaranteed lifetime income. Most of these types of riders have an annual fee.
A.
True
B.
False
3.
The following statements apply to the policyholder with an Income Rider:
A.
Some products allow income to begin immediately
B.
Can defer taking income for a certain number of years
C.
Don't have to decide right away
D.
All of the above
4.
What does annuitization mean?
A.
Trading a lump sum of money for a stream of guaranteed lifetime income
B.
An estimate of value
C.
Unconditional obligations for the payment of money secured by the pledge of an investment
D.
Date when an insurance company issues a policy
5.
When calculating how lifetime income works, the two different values used are Accumulation Value and Income Value, also known as Income Base.
