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Settlement options offered frequently include the following:

In a split-dollar arrangement, the economic benefit of a single life policy generally is measured by:

If a policy is treated as a MEC,amounts received as loans are subject to income tax to the extent of gain in the policy.

Which item is NOT a key factor to be weighed in choosing the best variable universal life policy?

Family needs analysis offers a more precise method than a “rule of thumb” method.

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

Policies that fail the thirteen-pay test will be treated as modified endowment contracts (MECs).

Planners should consider how to create a “paper trail” of evidence in case there is ever a dispute about the policy.

Key employee insurance is based on the premise that the cost of replacing a key employee is generally minimal and the full value of the individual to the organization can be recouped through other employees life insurance.

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