LLQP (Life Licence Qualification Program) Practice Exam · Question
In a segregated fund contract, whose life is used to determine the timing of the maturity and death benefit guarantees?
The person whose life the guarantees of the segregated fund contract are based upon is known as the annuitant.
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Question: In a segregated fund contract, whose life is used to determine the timing of the maturity and death benefit guarantees?
Answer options:
- The policyowner ✅ The annuitant
- The beneficiary
- The holder
Correct answer: The annuitant
Explanation: The person whose life the guarantees of the segregated fund contract are based upon is known as the annuitant.
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- A life insurance policy that offers lifelong coverage, a guaranteed death benefit, and a savings component tha
- Group benefits in Canada commonly include:
- Sarah, a 35-year-old marketing professional in Ontario, purchases a participating whole life insurance policy
- Mark, a 45-year-old business owner in British Columbia, has a Universal Life policy with a Level Cost of Insur
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