LLQP Segregated Funds & Annuities · Component 4.2 · 10% of the exam
The agent's role in a segregated fund death claim is to:
- AReceive the proceeds from the insurer and pay the beneficiary directly, so the family is not kept waiting
- BStep back entirely, since a death claim is a matter between the beneficiary and the insurer's claims department and not the agent's
- Notify the insurer, help with forms and proof, explain calculation, timing and tax, and follow up without promising amounts
- DDecide whether the claim is payable, since the agent knows the contract and the family better than the insurer
Correct answer: C) Notify the insurer, help with forms and proof, explain calculation, timing and tax, and follow up without promising amounts
Claims service builds trust and reduces errors. Amounts depend on the valuation date.
Why the other options are wrong
- AThe insurer pays the beneficiary; the agent never handles the proceeds.
- BAssisting with the death claim is expected service.
- DThe insurer adjudicates the claim.
Exam tip
Agent: notify, assist, explain, follow up.
Common mistake
Quoting the death benefit before valuation.
What this tests
CISRO competency component 4.2 — Provide customer service during the validity period of the coverage — which is weighted at 10% of the Segregated Funds & Annuities module. Written against the published curriculum.
More from component 4
- A client's daughter was born last month and the client wants her added to the segregated fund designation. The agent should:
- A client wants to withdraw part of his segregated fund before maturity. The agent should explain:
- A client's segregated fund contract is approaching its maturity date. The insurer will:
- A client asks to add her adult son as a joint owner of her non-registered segregated fund contract. The agent should explain that:
- A client wants to replace the beneficiary on a contract where the current designation was made irrevocable. The agent must explain that:
- A client who has lost her job asks to pause her pre-authorized monthly contributions for six months. The agent should:
Practice the whole Segregated Funds & Annuities module
Timed sets weighted like the exam, and review of every question you miss. Free to start.