Question 1 :

The purchase of long-term care insurance policies on estate taxes are:

Question 15 options:

A) the estate must premiums due if the policy is for a set amount of time

B) none, because the estate tax has been repealed

C) the estate may disburse unused benefits to the executor to distribute as he sees fit

D) virtually nil

Question 2

An accelerated death benefits provision on a life insurance policy:

A) pays a monthly benefit if the insured is in need of ADL assistance

B) pays out an entire life insurance policy if the insured is terminally ill and given fewer than one year to live

C) pays out a portion of life insurance benefits if the insured is terminally ill

D) pays out a portion of the life insurance immediately on the death of the insured with the remainder to follow in three months

Question 3

In a qualified long-term care contract:

A) premiums are taxable based on dollar limits

B) premiums are never taxable

C) premiums are taxable at 7.5%

D) premiums are often exempt from taxation