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26 Cards in this Set
- Front
- Back
Provides a lifetime retirement income, tax-deferred growth of assets.
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Annuities
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Provides a lifetime retirement income, tax-deferred growth of assets.
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Annuities
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Two types of annuities.
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Fixed
Variable |
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The annuity that provides a fixed monthly payment for contract term. Minimum rate guaranteed, hedge against inflation, mortality guarantee
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Fixed
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Variable monthly payment, no minimum rate of return guaranted...mortality guarentee
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Variable Annuity
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Methods of purchasing annuities
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Immediate
Deferred |
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During the pay in phase of an annutiy the premiums paid are valued as ________ _____.
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Accumulation Units
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The measure used during the payout phase.
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Annuity units
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The annuity payout option (settlement option) that grants the largest monthly payments for the life of the annuitant only.
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Life annuity
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The Payout option (settlement option) that pays for life or a set number of years is.
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Life annuity with period certain.
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the payout option that pays out for the life of the annuitant plus the life of the servivor.
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Joint and survivor life annuity.
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Tax-qualified Annuity plan for employees of public school systems.
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403(b)
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Tax-qualified annuity plan for employees of private, non-profit organiztions.
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501(c)(3)
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Has minimum benefit, but no maximum.
- Variable life - Whole life - Univeral life |
Variable life
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Has no guarenteed cash value:
Var. life whole life Univ. life |
Variable life
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_______ life and _______life guarantee cash value to one degree or another.
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Whole life
Universal life |
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________ life insurance has a minimum benefit and _______ life insurance has a possible fixed minimum death benefit.
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Whole life
Univeral life |
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______ life and ________ life premiums are paid in fixed amounts at fixed dates.
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Variable
Whole |
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Who qualifies for a IRA?
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Anyone with earned income.
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A special IRA that allows contributions to continue after age 70 1/2 with no withdrawal necessary.
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Roth IRA
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Coverdell Education Savings Accounts and 529 Plans are what type of Plans
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Educational savings plan
and Qualified State Tuition Programs |
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Coverdell Education Savings Accounts and 529 Plans are what type of Plans
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Educational savings plan
and Qualified State Tuition Programs |
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Anyone with self-employeed income, sole proprietors or partners and their employees qualify for for this.
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Keogh Plan (HR10)
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In a Keogh plan, _______ amount of funds are _____ at distribution of funds.
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entire
taxed |
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In a Keogh plan, the _______ amount of funds are _____ at distribution of funds.
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entire
taxed |
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Anyone with self-employeed income, sole proprietors or partners and their employees qualify for for this.
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Keogh Plan (HR10)
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