SUPP Contracts Beneficiary Options Type 1-8

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SUPP contract beneficiary types 1-8

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Sharon

United States

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Froggy Jumps SUPP Contracts Beneficiary Options Type 1-8Online version SUPP contract beneficiary types 1-8 by Sharon 1 Supplemental Contracts Beneficiary Type 1-8 are: a An option for a beneficiary of a life insurance or annuity death claim b Mandatory for a beneficiary to choose c Lock beneficiary into a set payment for life 2 Which AMT tab shows Supplemental Contracts a SUPP / F 111 b VALU c DEATH1 3 How do we order a SUPP contract partial withdrawal form? a Claim Team – SUPP Contract – Misc with note to send PW form b Life Benefits - Partial Withdrawal Form c Death Claim - Misc with note to send PW form 4 Which is NOT true of beneficiary SUPP Types 1-8 a Member locked into life payment with no access to additional funds b Have a partial withdrawal or cash surrender option c If SUPP account holder dies, their beneficiary will get remaining funds 5 SUPP Type 4 or Type 8 Minor Beneficiary a Used when beneficiary was a minor on a death claim b Nobody can access funds until minor becomes adult in his/her state c Call Certificate Services with questions 6 The "base" certificate number on SUPP types 1-8 is: a Deceased's cert with a -S, -T, etc...for each beneficiary choosing a SUPP b A brand new certificate number c The SUPP member's Social Security number 7 Five Year Rule or Ten Year Rule SUPPS a All funds must be out by December of the fifth or tenth year b Funds do NOT earn any interest c Are not popular beneficiary choices 8 If member asks for a current balance of their SUPP Type 1-8? a Call SUPP/SPIA for balance and taxable gain quote b Quote the SUPP DEP AMT / Deposit Amount c Direct member to their local agent 9 If you cannot reach the Claim SUPP phone queue, what do you do? a Send request to Claim Team - SUPP Contract - Misc b Cry and shake your fists in the air c Walk over to Claim SUPP department 10 How are Beneficiary Type 1-8 different from annuity SPIAS? a Bene Type 1-8 allow access to funds. SPIA Type A-S have locked in lifetime payments. b They are exactly the same c I've no idea!

Froggy Jumps

SUPP Contracts Beneficiary Options Type 1-8Online version

SUPP contract beneficiary types 1-8

by Sharon

Supplemental Contracts Beneficiary Type 1-8 are:

An option for a beneficiary of a life insurance or annuity death claim

Mandatory for a beneficiary to choose

Lock beneficiary into a set payment for life

Which AMT tab shows Supplemental Contracts

SUPP / F 111

VALU

DEATH1

How do we order a SUPP contract partial withdrawal form?

Claim Team – SUPP Contract – Misc with note to send PW form

Life Benefits - Partial Withdrawal Form

Death Claim - Misc with note to send PW form

Which is NOT true of beneficiary SUPP Types 1-8

Member locked into life payment with no access to additional funds

Have a partial withdrawal or cash surrender option

If SUPP account holder dies, their beneficiary will get remaining funds

SUPP Type 4 or Type 8 Minor Beneficiary

Used when beneficiary was a minor on a death claim

Nobody can access funds until minor becomes adult in his/her state

Call Certificate Services with questions

The "base" certificate number on SUPP types 1-8 is:

Deceased's cert with a -S, -T, etc...for each beneficiary choosing a SUPP

A brand new certificate number

The SUPP member's Social Security number

Five Year Rule or Ten Year Rule SUPPS

All funds must be out by December of the fifth or tenth year

Funds do NOT earn any interest

Are not popular beneficiary choices

If member asks for a current balance of their SUPP Type 1-8?

Call SUPP/SPIA for balance and taxable gain quote

Quote the SUPP DEP AMT / Deposit Amount

Direct member to their local agent

If you cannot reach the Claim SUPP phone queue, what do you do?

Send request to Claim Team - SUPP Contract - Misc

Cry and shake your fists in the air

Walk over to Claim SUPP department

How are Beneficiary Type 1-8 different from annuity SPIAS?

Bene Type 1-8 allow access to funds. SPIA Type A-S have locked in lifetime payments.

They are exactly the same

I've no idea!

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SUPP Contracts Beneficiary Options Type 1-8

Froggy Jumps

About this activity

Created by

Download the paper version to play

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SUPP Contracts Beneficiary Options Type 1-8Online version

by Sharon

Supplemental Contracts Beneficiary Type 1-8 are:

Which AMT tab shows Supplemental Contracts

How do we order a SUPP contract partial withdrawal form?

Which is NOT true of beneficiary SUPP Types 1-8

SUPP Type 4 or Type 8 Minor Beneficiary

The "base" certificate number on SUPP types 1-8 is:

Five Year Rule or Ten Year Rule SUPPS

If member asks for a current balance of their SUPP Type 1-8?

If you cannot reach the Claim SUPP phone queue, what do you do?

How are Beneficiary Type 1-8 different from annuity SPIAS?