Sun care Product Overview Quiz

In order for a producer to sell Sun Care, they must have an Active State Life & Health License. This license is necessary as Sun Care products are typically classified as health-related items, and therefore require a license that allows the sale of health-related products. The CFP Designation and Active Series 6 License do not specifically pertain to the sale of Sun Care products, so they are not the correct answer.

Long Term Care Insurance typically covers services such as home care and nursing home expenses, but it generally does not cover extended hospital stays. This is because extended hospital stays are usually covered by health insurance or Medicare. Long Term Care Insurance is designed to cover the costs of long-term care services, such as assistance with activities of daily living, in settings other than a hospital.

The issue ages for Sun Care are between 30 and 80 years old, based on age last birthday. This means that individuals must be between the ages of 30 and 80 on their last birthday in order to be eligible for Sun Care.

As of June 1, 2011, a total of 37 states and jurisdictions have approved Sun Care.

The correct answer is 8% of the total single premium. This means that the first year commission for Sun Care is 8% of the total amount paid as a single premium.

The minimum face amount for Sun Care is $25,000. This means that the lowest amount of coverage that can be obtained for Sun Care is $25,000.

The correct answer is that with the Accelerated Benefit Rider (ABR), any Maximum Monthly Benefit amount not paid in a given month extends the benefit period. This means that if the full benefit amount is not utilized in a particular month, it can be carried forward and added to the benefit period, allowing the policyholder to receive the remaining benefit amount in the future. This feature provides flexibility and ensures that the policyholder can continue to receive benefits for a longer duration.

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The maximum monthly benefit amount for the Client with a face amount of $145,772 and electing the 3 year option is $4,049.22.

The Health Advocate feature of Sun Care does not have any cost associated with it. It is provided free of charge to the users.

The typical 2011 Sun Care policy issue process is designed to take 30 days. This means that it is expected to take a month for the policy to be issued.

The maximum benefit on the Accelerated Benefit Rider (ABR) is equal to the Policy Face Amount. This means that the policyholder can receive a maximum payout from the ABR that is equal to the face amount of their policy. The ABR allows policyholders to receive a portion of their death benefit early if they are diagnosed with a terminal illness or meet other qualifying criteria. The amount received will depend on the policy's face amount, which is the initial amount of coverage chosen by the policyholder.

The Sun Care Death Benefit amount is equal to the Face Amount unless the client is taking Accelerated Benefits. This means that the death benefit paid out to the beneficiary will be equal to the original face amount of the policy, unless the client has chosen to receive accelerated benefits, in which case the death benefit amount may be reduced.

The SLFD Sales Desk is responsible for running Sun Care pre-sale illustrations.

The client will receive two phone calls as part of the personal history tele-interview process.

Walking is one of the six basic activities of daily living (ADLs) that define long-term care eligibility. The other five ADLs include bathing, dressing, eating, toileting, and transferring. These activities are used to assess an individual's ability to perform essential self-care tasks and determine their eligibility for long-term care services.

The maximum face amount for Sun Care is $1,000,000 if the 3-year Accelerated Benefit rider period is selected.

The correct answer is Accelerated Benefit Rider (ABR) & Residual Death Benefit Rider. These two riders are included with all Sun Care policies. The Accelerated Benefit Rider allows the policyholder to receive a portion of the death benefit if they are diagnosed with a terminal illness. The Residual Death Benefit Rider provides an additional benefit if the insured dies due to an accident. These riders provide added protection and financial support to the policyholder and their beneficiaries.

The maximum number of coverage years for a Sun Care policy with both the Accelerated Benefit Rider (ABR) and the Extension of Benefit Rider (EOB) is 8 years. This means that the policyholder can receive coverage for up to 8 years if they have both riders attached to their policy.

The Nonforfeiture Benefit Rider costs a one-time charge of 15% of the EOB premium, based on the insured individual's age and risk class. This means that when the rider is added to the policy, the insured will pay an additional fee equal to 15% of their EOB premium, which is determined by their age and risk classification. This is a one-time charge and does not require an annual payment.