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The policy cash value for limited-pay whole life policies initially grows more quickly than for policies with longer payment periods.

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.