IFSE Institute LLQP Exam With Confidence Using Practice Dumps

Comprehensive and Detailed Explanation From Exact Extract:

For young children, atrusteemust be named to manage proceeds. For tax obligations, naming theestatesimplifies settling liabilities such as RRSP taxes. LLQP outlines this structure as appropriate in combined term-permanent planning for dependents and estate tax planning.

The Canadian Insurance Services Regulatory Organizations (CISRO) is responsible for administering the regulatory framework for insurance intermediaries across Canada. CISRO works with provincial and territorial regulators to ensure consistent standards and practices for insurance agents, helping maintain public trust and professional integrity within the industry​.Elizabeth is correctly referencing CISRO as the body that manages the regulatory system applicable toinsurance intermediaries​.

In the case of life insurance where a subrogated policyholder is designated, that individual (in this case, Natalya) would assume ownership rights of the policy upon the original policyholder’s death. Since Kirill named Natalya as the subrogated policyholder, she would become the new policyholder upon his death, regardless of the fact that Kirill did not have a will. This designation bypasses the estate, meaning the executor or other family members (like Katya) do not assume ownership. This outcome aligns with LLQP guidelines on succession planning and the assignment of life insurance ownership​​.

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