Chapter 7 test (mastered) review
He is a 40-year-old woman and would like to purchase in annuity they will provide a lifetime income stream beginning at age 60. Which of the following did she not buy
An immediate annuity
Variable annuities may infest premiums in each of the following, except
And chores corporate business account
What type of contract liquidate an estate for recurrent payments
Annuity
What is considered to be a characteristic of an immediate annuity?
Benefit payments start within one payment period of purchase
The payments on Q's annuity are no less than $250 quarterly. Which of the following annuities does Q own?
Flexible Installment Deferred
Which of these is an element of a single premium annuity
Lump-sum payment A lump-sum payment is required for a Single Premium annuity.
Which of these statements concerning an individual straight life annuity is accurate
Payments are made to an annuitant for life
He has inherited a large lump sum of money. K purchases and annuity with his some on July 1, and start receiving payments August 1. These payments will continue for as long as she and her spouse lives which type of annuity did purchase
Single premium immediate joint with survivor annuity
A variable annuity has which of the following characteristics
Underlying equity investments
Individual who purchases a life annuity is given protection against
the risk of living longer than expected
