In order for life insurance in a qualified retirement plan to be considered incidental, it will have to meet which of the following tests:
A) The cost of the life insurance must be less than 25 percent of the cost to provide all plan benefits
B) The life insurance death benefit cannot exceed 100 times the monthly retirement income that is provided by the qualified retirement plan
C) Either A or B
D) Neither A nor B
Correct Answer:
Verified
Q6: A _ will allow for the direct
Q7: If an annuity owner passes away prior
Q8: A _ is an official contract between
Q9: A(n) _ is a special type of
Q10: The premiums paid for life insurance coverage
Q12: In most cases, the death benefits on
Q13: If the proceeds of a life insurance
Q14: If an individual leaves life insurance proceeds
Q15: Withdrawal of a life insurance policy's cash
Q16: If a life insurance policy lapses due
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