Team Af Quiz Awla

Based on the given information, the female is a non-smoker and rated standard select. She has a $250,000 death benefit, $250,000 PITR (15 yr), waiver of premium (max), and guaranteed insurability rider ($50,000). The question states that she wants to pay quarterly auto. The premium amount that matches these coverages and payment frequency is $896.87.

The correct answer is "All of the above." This means that all of the statements provided in the question are true about the Paid-up Insurance Rider. The minimum annual premium for this rider is $100, if the annual premium is not paid, no further payments will be allowed, and the first year required premium is $0.

The AWLA Marketing Tool Overview provides new opportunities to help agents sell larger cases with bigger premiums, meet the needs of business insurance customers, and expand their business rather than just shifting current customers. However, it does not provide lower initial premiums.

Excess credits are not declared and paid at the beginning of the policy year. This means that they are not predetermined or guaranteed elements of the policy. Instead, excess credits are typically determined based on the insurance company's performance and policyholder experience throughout the year. These credits are similar to dividends, as they represent a return of excess premiums to the policyholders.

The correct answer is 50%. This means that the market share of whole life insurance has increased by 50% since 2007. This indicates a significant growth in the popularity and demand for whole life insurance policies over the years.

The policy will be considered a Modified Endowment Contract (MEC) because it meets the criteria for a MEC. A MEC is a life insurance policy that has been funded with more premium payments than allowed by the tax laws. In this case, the premium payments are being made over a 10-year period, which exceeds the allowable limits. As a result, the policy will be classified as a MEC, which has different tax implications compared to a non-MEC policy.

Excess Credit options in a policy allow the policyholder to utilize the excess cash value to increase the death benefit and cash, repay policy debt, and reduce premiums due. This means that all of the given statements are true about Excess Credit options.

The minimum face amount for Allstate Whole Life Advantage ages 18 to 80 is $50,000.

The correct answer is "Excess credits will not be paid on money that is out on loan." This means that if a policyholder takes a loan against their AWLA policy, any excess credits they have accumulated will not be paid to them while the loan is outstanding. This is different from other policies where excess credits can be borrowed through Paid Up Additions.

The given correct answer states that the AWLA prime term rider is not available in any increment between 10 and 20 years. This means that the rider cannot be customized or adjusted to fit a specific time period within that range.