LLQP Life Insurance · Component 1.2 · 35% of the exam
A client in Quebec asks about survivor benefits. The agent should refer to:
- AThe employer, since in Quebec survivor benefits are provided through workplace plans rather than the government
- BThe Canada Pension Plan, since Quebec contributors receive the same survivor benefits as everyone else in Canada
- COld Age Security only, since Quebec residents are covered by the federal seniors' program for survivor purposes
- The Quebec Pension Plan, which provides the equivalent survivor, death and orphan benefits for Quebec contributors
Correct answer: D) The Quebec Pension Plan, which provides the equivalent survivor, death and orphan benefits for Quebec contributors
Quebec administers its own plan, the QPP, in place of CPP. Its survivor and death benefits parallel CPP's, with its own rules. Agents serving Quebec clients must apply the QPP provisions.
Why the other options are wrong
- AThe employer's plan is separate from government survivor benefits.
- BQuebec contributors are in the QPP, not CPP.
- COAS is a federal seniors' benefit, not a survivor benefit scheme.
Exam tip
For Quebec clients, substitute QPP for CPP throughout; the benefit categories are parallel but the rules are Quebec's.
Common mistake
Quoting CPP rules to a Quebec client.
What this tests
CISRO competency component 1.2 — 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.