5 under what condition could accelerated benefits paid under...

5. Under what condition could accelerated benefits paid under a qualified long-term care rider be taxable to the policyowner? a. when the rider is purchased after the base life insurance policy becomes effective b. when the rider is sold by a producer who is health-licensed c. when the rider is a reimbursement rider d. when the rider is an indemnity rider

Transcript

00:01 Hello students, here is a question with regards to the life insurance policy that you can accumulate the death benefit for the payment of qualified long term care expenses which of the following statement is true? this is our question, let us discuss the answer further.

00:14 So, we have four options given here, we have to choose the right answer for this.

00:19 So, the first option says that the policy must meet the requirement of a section 770 of 2b of internal revenue code and option b is the policy called to be sold only for the purpose of a state of long term partnership program.

00:32 When it comes to an option c, the policy can play a accrued benefit only the conditions of triggered and the benefit of disclosed permanent and when it comes to option d, the policy can pay an accrued benefits only if the condition or triggered the benefit which result in insured death.

00:49 So, the correct answer is option a, that is the policy must meet the requirement, the policy must meet the requirement, requirement of section 770 2b of internal revenue code, of internal revenue code.

01:23 So, this section of a code outline the requirement of life insurance policy of quality for tax free accrued benefits for the long term care expenses.

01:32 So, when it comes to the 35th question, raising a death with falling equality of a characteristic of what kind of home loan is this? so, the answer will be option a, reverse mortgage, reverse mortgage.

01:53 So, in the reverse mortgage, the home loan receives a payment from the lender based on the equity in their home as the homeowner receives the payment for the death increases while their equity decreases.

02:07 The next question, who are the best candidate for the self -funding long term cost and we have options given here...

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