Annuities 101
Which of the following were presented in the "Key Terms" portion of Annuities 101? Select all correct answers.
Owner
Cap
Annuity
Annuitant
Beneficiary
Interest
Participation Rate
Qualified/Nonqualified Funds
Premium
Index
Liquid
Rider
Which of the following statements is true regarding annuities?
Annuities do not generate income payments over a specified period of time.
Annuities can replace life insurance.
Annuities are an insurance product.
Annuities come from a word meaning "twice a year".
Which types of annuities do we carry here at SILAC? Select all correct answers.
Immediate
Multi-Year Guaranteed Annuities
Variable
Fixed
Fixed Indexed Annuities
Why is it important to know how a Single Premium Immediate Annuity functions?
They are our most popular product we sell.
It is where the term "annuity" comes from.
They are the most immediate form of payment for people who buy annuities.
All annuities must be able to convert to SPIAs upon annuitization for payout.
FIAs differ from MYGAs in that they offer only potential growth based off of market conditions.
The following parties to sell our products: Select all correct answers.
Insurance Companies
Independent Agents
Direct Sale from SILAC to Customers
Marketing Agencies
IMOs or NMOs
The following is a list of some of the common requests received in our Policy Services department; withdrawal, name change, renewal, surrender, spousal continuation, and power of attorney.
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