IFSE Institute Life License Qualification Program (LLQP) LLQP Dumps in PDF

Julie and her spouse, Vincent, have two children, the youngest of whom is 5. Their salaries are roughly equivalent, at around $65,000 each. If Julie loses her spouse, she would receive, each month, $700 from the government plan and an orphan's pension of $230 for each of her two children. She would also receive a monthly pension of $790 from her spouse's pension plan. The monthly expenses after her spouse's death are estimated at $4,000. Julie's disposable income will be about $1,500 a month. She is worried about the impact on her children's standard of living, especially over the next 10 years.
What is the annual shortfall if Vincent dies?

Agatha and Peter run a successful sole proprietorship. They are 68 and 70 respectively. Peter has a huge registered investment portfolio that will result in significant tax consequences upon his death.
When both of them have passed away they would like their registered investment portfolio to go to their son, Alexander, who is 48 years old. The family would like to purchase life insurance to offset the tax liability.
Which of the following plans would best suit the family?

Andrea, owner of Andrea's Fashions Inc., employs her designer daughter Judy, who will carry on the business after Andrea is gone. Wishing to ensure that the business would not suffer financially when Andrea passes away, Andrea decides at age 50 to have her business own, pay for, and be the beneficiary of life insurance on Andrea's life. The type of insurance that best suits is non-convertible Term 10 life insurance renewable until age 80.
What should her life insurance agent advise regarding this policy?

Andrew and Julie are married and are currently doing some tax and estate planning. They have acquired several properties over the years, many of which are rental properties.
When Andrew and Julie pass away, they would like to pass these properties on to their kids. They realize there will be a large tax disposition on the final estate after they have both passed away and would like to fund that through a permanent life insurance strategy. They would like a simple solution and cash value is not important to them.
What type of life policy should Andrew and Julie consider purchasing?

Elizabeth has a universal life policy and has been diligent in funding it over the last several years. As a part of this, the investment account within the policy has done quite well. Elizabeth met with her financial advisor as she would like a refresher on the benefits of the accumulating fund, as it has been a while since they last discussed this; flexibility with and access to cash flow are important to her as she would like to use this as part of her retirement planning in the future.
What benefits of the accumulating account apply to Elizabeth's situation?

Pete is the owner of Blenheim News Tribune Inc, a company responsible for producing the local newspaper. He has owned the family-run business for 30 years, and he currently employs 10 people. Peter wants to offer a group benefits plan to his staff, so he meets with Daphne, a licensed insurance agent to go over some options. He would be willing to cover 75% of each employee's required premium and ask that each employee be responsible for their remaining 25%. Based on the information provided, which statement is true regarding Blenheim News Tribune Inc's group insurance premiums?

Alex is meeting with his financial advisor, Shannon, to discuss potential life insurance options. Alex's need for insurance will increase gradually over time due to growth on his investment properties. He would like the mortgages and taxable gains paid off if he were to pass away. Shannon recommends a permanent policy, as Alex's need is long-term, and could extend beyondany period of time a term policy would cover. Alex also wants to add an extra coverage onto this policy as he wants to be provided with additional growth over time he needs.
Which rider would work for Alex?

Donald is married and has two children, ages 3 and 5, one of whom is severely disabled and will never be able to live independently. He is considering buying $500,000 of life insurance to guarantee care for his disabled child for his lifetime. He also wishes to insure his 20-year mortgage of $250,000 to ensure that his family can remain in their home in the event of his death.
What life insurance policy would you recommend to Donald?