LLQP Life Insurance · Component 1.1 · 35% of the exam
A client asks whether Old Age Security pays anything to a surviving spouse under 60 with no children.
- Generally nothing from OAS; the Allowance for the Survivor begins at 60 for low-income survivors
- BMonthly OAS survivor benefits for life, since the program treats a widow or widower as having reached pension age immediately
- CA full survivor pension equal to the deceased's OAS entitlement, paid until the survivor qualifies for OAS in their own right
- DA lump sum death benefit paid to the survivor within thirty days of the death, in addition to any CPP benefits
Correct answer: A) Generally nothing from OAS; the Allowance for the Survivor begins at 60 for low-income survivors
OAS is a seniors' program. Its only survivor-related benefit is the Allowance for the Survivor, from 60 to 64, income-tested. Younger survivors rely on CPP survivor benefits and private coverage — which is why the private need is largest for young families.
Why the other options are wrong
- BNo lifelong OAS survivor benefit exists.
- COAS has no full survivor pension.
- DOAS pays no lump sum at death.
Exam tip
Government survivor support for a young spouse is limited to CPP; OAS support starts at 60 and only for low income.
Common mistake
Counting on OAS for a survivor under 60.
What this tests
CISRO competency component 1.1 — Assess the client's needs and situation — which is weighted at 35% of the Life Insurance module. Written against the published curriculum.
More from component 1
- A client's existing policies were all sold by another agent who has left the business. The reviewing agent should:
- A client supports an adult child with a permanent disability who will never be self-sufficient. In the needs analysis this is:
- A self-employed client's income fluctuates widely year to year. When determining the income to replace, the agent should:
- A 58-year-old client plans to retire at 65 and has a pension that will pay a survivor benefit. How does time to retirement affect the life insurance need?
- Which of the following is a capital expense arising at death, rather than an ongoing income need?
- A client is the sole income earner in a household with a stay-at-home spouse and two young children. The greatest risk that life insurance on the client addresses is:
Practice the whole Life Insurance module
Timed sets weighted like the exam, and review of every question you miss. Free to start.