When a retained asset account is established in the place of a cash settlement, an...

SOFE AFE Question Answer

When a retained asset account is established in the place of a cash settlement, an interest bearing account is created by the insurer for the beneficiary. The beneficiary receives a checkbook with which to draw upon funds in the new account. The account holder can make:

Partial or total withdrawal of the account balance as needed and has total control over the account

Partial withdrawal of the account balance as needed and has total control over the account

Total withdrawal of the account balance as needed and has total control over the account

25% withdrawal of the account balance as needed and has total control over the account.

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Vendor: SOFE
Product: AFE
Update on: Jan 2, 2026
Questions: 286

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When a retained asset account is established in the place of a cash settlement, an...

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