LLQP Segregated Funds & Annuities · Component 4.2 · 10% of the exam
When the annuitant of a segregated fund dies, the beneficiary must provide:
- A claim form, proof of death, proof of identity, and any documents the insurer requires, such as a trustee's authority
- BA court order in every case, since the insurer cannot release funds without judicial confirmation of the beneficiary's entitlement
- CNothing beyond a telephone call, since the insurer verifies the death through government records on its own
- DThe will, since the insurer must confirm that the designation is consistent with the deceased's testamentary wishes
Correct answer: A) A claim form, proof of death, proof of identity, and any documents the insurer requires, such as a trustee's authority
Death claims are simple when a beneficiary is named. The agent should guide the beneficiary through the forms.
Why the other options are wrong
- BCourt orders are rare with named beneficiaries.
- CDocuments are required to pay a claim.
- DThe will is irrelevant to a designated benefit unless the estate is beneficiary.
Exam tip
Death claim: form, proof of death, ID.
Common mistake
Delaying the claim waiting for probate that is not needed.
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.