LLQP (Life Licence Qualification Program) Practice Exam · Question
Tax-free death benefit applies to:
Generally tax-free.
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Question: Tax-free death benefit applies to:
Answer options: ✅ Life insurance proceeds to named beneficiary
- RRSP at death
- Annuity payments
- Capital gains
Correct answer: Life insurance proceeds to named beneficiary
Explanation: Generally tax-free.
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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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