Continuing Education

Vicki asked:


I have formulated a business plan, however, would like more information to complete this

Sam

edward hulse asked:


The most difficult party to an annuity for a person to fully understand is the annuitant. The best way to understand this party to an annuity would be to compare it to the functions of a life insurance policy. When a life insurance policy is issued, the person insured is named on the contract and continues as the insured until the owner of the policy either terminates the contract or does not make any required premium payments - or, of course, the insured dies.

With the annuity, the terms remain in force until the contract owner makes a change or the annuitant (the person named in the contract as annuitant) dies. Therefore, the annuitant resembles the insured in a life insurance policy. But with an annuity, the death of the annuitant does not necessarily mean the contract is about to terminate. Even though every annuity contract must designate an annuitant, the annuitant has no voice or control over the investment or its disposition. If the contract is a Variable Annuity, and if the annuitant dies, this may create certain insurance company guarantees.

Annuitants are often called the “measuring life.” This means that the length of time that the contract covers must have a specific time frame. The annuitant is then used as the time frame that is considered and referred to by the contract. Just like in life insurance, the annuitant has no voice or control over the contract. The annuitant can benefit from an annuity ONLY when it “annuitizes.” The annuitant, by itself, cannot make withdrawals or deposits, change the names of the parties to the agreement, or terminate the contract.

The person named as annuitant can be any person so designated by the annuity, with the only restriction being that is must be an actual living person under a specified age, and not a trust, business, corporation, etc. The maximum age of the proposed annuitant depends on the requirements of the insurance company – usually the annuitant must be under age of 75 when the contract is first executed. It is of prime importance that the investment (contract) stay in force after the annuitant reaches this maximum age.

Generally, the contract owner may change the annuitant at any time provided the annuitant is alive when the contact was originally executed. Some contracts allow for the contract owner to name a co-annuitant. By naming a co-annuitant, the contract could last longer because any “forced” annuitization or the termination of the contract could possibly be postponed until the death of the second annuitant. The co-annuitant can be compared to a “second-to-die” life insurance policy, as the death of one annuitant will not force distribution of the annuity. Naming a co-annuitant means the death of one annuitant will not trigger a possible forced distribution.

Only a small number of insurers include a co-annuitant option as part of the annuity application.

Some annuity contracts require a distribution or “orderly liquidation” of the funds, once the annuitant reaches a certain specified age - typically 80 or 85. The death of an annuitant may require liquidation within a specified period, usually five years.

AGE OF ANNUITANT

Regulations are rather detailed as to who can purchase an annuity and for whose benefit, keeping in mind the contract law that a contract entered into by a minor can be voided by such minor.

California regulations state that (a) a minor under age 18 may enter into a valid contract for life or disability insurance, or annuities, (b) those under age 16 can purchase life or disability insurance or annuities with the written consent of their parent or guardian. In respect to benefits, a minor under the age of 18 may give valid instructions as to any money that has accrued or payable under the terms of the contract, but only with the written consent of a parent or guardian. The regulations also state that any contract that is made by a minor under age 18 that can result in the personal liability for assessment, may only be issued with the written assumption of such liability by a parent or guardian.

In actual practice, annuities are generally issued with maximum ages of 85 and annuitization at age 90 or 95, with some offering maximum annuitization age of 100. Age 85 is also often used for both purposes as that is the law in Pennsylvania. For non-qualified products the youngest issue age is usually -0-, but the minimum age usually is only mentioned for Equity Index Annuities.

http://www.myceisonline.com



Vernon

Ekta Jain asked:


Fulfill Your Career Ambitions

The purpose of online nursing continuing education is to provide the applicants the means of extending their knowledge and various skills so that they are able to meet newer challenges in this profession. They are given thorough education on public health and safety, medical administrative services, mental health services, therapeutic rehabilitation and many more. Not just youngsters but job-seekers and busy nursing professionals too can get a nursing degree as online nursing continuing education provides them the flexibility to learn on their schedule- at home or at work. They do not have to ignore their daily commitments to fish out time for online education. They can study during the day or in the night as befits them.

Online nursing continuing education upholds the interests of online students above everything else. That is why the curriculum of its course is prepared, considering the prevalent and future demands in the medical sector. It is seen that the students get a proper and serious academic knowledge and clinical training. An online nursing degree should be able to help them reach where they want to. The flexible set up and low fee structure help them achieving this goal and so does the scholarships and other financial aids offered to students on the basis of their needs and merit. Such facilities not only encourage more students to take up nursing as their career but also widen the reach of online nursing continuing education. That is why there are more students studying under the latter than in traditional universities.

There is a sea of opportunities for qualified nursing professionals. With right guidance and proper educational backing, you can make it big in this profession. The sky is the limit and online nursing continuing education can help you reach your full potential and make you a desirable candidate in the job market.

As you are committing yourself to complete dedication and life long care so you should have a solid foundation to base your career on. Choose a reputable and accredited nursing degree program, which will enable you to realize your ambitions. It will go a long way in future career advancement and producing more job opportunities.



Joyce

Rich asked:


Typically, when the economy slumps and people start losing jobs, the education system increases its population. With the current state of the economy, people are extremely concerned about their finances. Will people choose to seek jobs prior to attending an educational institution and attain a graduate degree? Or, will they forgo the expense due to the economy and branch out to find another job instead?

Barry

edward hulse asked:


A “Split Annuity” is not a product, actually it is a technique that can be used with either a fixed-premium annuity, or a Variable Annuity. It is designed to allow a certain percentage of the principal and interest to be withdrawn by the contract owner, while the remaining investment grows (and compounds) and with the prospect of eventually equaling the original investment amount.

The concept is simple: The contract owner divides the account into two parts. One part is completely liquidated, and the other part is used strictly for growth. While either a fixed-premium annuity, or a Variable Annuity can be used, obviously only the fixed-premium contract can make the guarantee that the original amount will be completely restored within a pre-determined period of time.

The purpose of the Split Annuity concept is to maximize income and at the same time, keep wealth intact. It also has a tax advantage. The way that this would work can best be explained in the following Consumer Application.

CONSUMER APPLICATION

Bradley has freed up $100,000 because of a market transaction. He wants to have a current income but he also wants to make sure that after a certain period of time, he still has his $100,000. And, he wants to do this and still have a tax break.

Bradley invests approximately $60,000 into a fixed-premium annuity which guarantees a 6% rate of income over the next eight years. He then takes the remaining money (approximately $40,000) that is immediately annuitized for the same period of time - 8 years. The insurance company issuing the annuities furnish the exact amount that can be used to accomplish his purpose.

According to the interest credited by the insurance company, the approximately $60,000 will be work $100,000 (exactly) at the end of the 8 year period. During this 8 years, he will receive approximately $450 per month (again the insurer will calculate the exact amount).

The tax break develops because 82% of the $450 per month is not subject to income taxes because of the exclusion ratio.

His goals have been accomplished.

As an alternative, Bradley could invest the $40,000 into a variable account that could take advantage of the returns of 12% - 13% growth of the stocks (over the past 50 years). If he had invested 8 years ago, with the recent stock market gains, he would have had substantial growth in his sub-accounts. Just at $12%, it would have grown to over $90,000.

Unless an individual annuity is used to fund an IRA, it is nonqualified. While premium deposits to a nonqualified annuity are not tax deductible, interest earnings are tax deferred and enjoy all of the other related advantages.

In addition, nonqualified individual annuities are not subject to the strict contribution limitations of an IRA.  As a result, individuals may deposit much more cash into a nonqualified annuity each year than they are permitted to deposit into an IRA. For many people, the flexibility, the potential for depositing greater sums for retirement savings and the relatively fewer Internal Revenue Code requirements and limitations on nonqualified annuities, add up to a better choice than an IRA.

http://www.myceisonline.com

Illinois Insurance Continuing Education



Eva

catherine v asked:


This is in the state of NY at a prestigious cooking school. I am just curious. Any help would be appreciated.

Kathryn

Lucy asked:


I’m looking to go back to college, I graduated back in 2003. I’m a single mom and I work one full time job. I’ve been searching for grants that can help me further my education and I’ve applied for the pell grant and another one. But that leaves me about 5,000 short for school. I don’t want to have to apply for a loan because I know they check credit and that takes off points on my credit score. Does anyone know of any charities, business, government grants or scholarships that award or give money for college? I don’t know if it helps but my major is digital movie production.
I’m looking to go back to college, I graduated back in 2003 from high school. I’m a single mom and I work one full time job. I’ve been searching for grants that can help me further my education and I’ve applied for the pell grant and another one. But that leaves me about 5,000 short for school. I don’t want to have to apply for a loan because I know they check credit and that takes off points on my credit score. Does anyone know of any charities, business, government grants or scholarships that award or give money for college? I don’t know if it helps but my major is digital movie production

Dennis

Abigail Franks asked:


As the world continues to get more complex, careers are becoming more specialized and require continuing education credits to remain in good standing. This is especially true in the medical fields although many professions and professional organizations also demand their members to continue to develop the skills necessary for today’s changing environments.

Almost any field of study that takes a great deal of study to become a recognized member will require continuing education. From engineering, medical nurses and doctors, respiratory therapists, quality managers and many others all are expected to maintain a level of education consistent with the field of knowledge. The reason behind this is to have professionals who have not only maintained but also developed and learned new techniques and skill sets. This is critical in much of the more complex business world.

Quality engineers and managers focus on competence and techniques that not only allow for the lowest cost products to be developed but also understand the trade-offs between cost and quality.

CPA’s or certified public accountants, need to keep up with the latest laws and be up to date with many of the sometimes arcane accounting principles. Teachers and nursing are two other fields that also require continuing education to remain active in the profession.

Although a good education in many of the professional fields can provide a solid understanding of the industry no matter if it be financial, medical, industrial, or scientific. Ongoing competence in any of these fields however requires an ongoing process of continuing education. Continuing education is necessary for the professional to remain up to date with the latest techniques and knowledge base in the field of study.

Typically continuing education translates into a certain number of course credit hours for the professional every so many years. These additional education credits are sometimes mandatory when renewing government controlled certifications like a teaching certificate. Although some groups do not make the ongoing educational process mandatory, almost all provide an opportunity to obtain the educational credits through sponsored classes, seminars, and online “CBT” or computer based training.

In order to stay professional and remain in good standing wit many of the recognized professional organizations ongoing continuing education is critical for a professional career. The small investment in additional training can go a long way to keeping skills fresh and increasing the competence level of any professional.



Theodore