life insuraNCE

An agent selling variable annuities must be registered with

FINRA

When an annuity is written, whose life expectancy is taken into account?

annuitant

receives payments from an annuity and is the person whole life expectancy is considered when writing the contract.

annuitant

the period of time during which accumulated money is converted into income payments/stream

annuity period

guarantee a minimum amount of interest to be credited to the purchase payment

fixed annuities

Who bears all of the investment risk in a fixed annuity?

insurance company

If an annuitant dies during the accumulation period, what will the beneficiary receive?

is paid either cash value of the policy or the amount of premiums paid whichever is the larger amount

What license or licenses are required to sell variable annuities?

life insurance and securities

The annuity settlement option that pays out the highest monthly income for as long as the annuitant lives, and leaves no residual value upon the annuitant's death, is the:

pure or straight life

which of the following type of annuities will generally provide the highest monthly income

straight life

the annuitant dies while the annuity is still in the accumulation stage which is true

the beneficiary will receive the greater of the money paid into the annuity or the cash value

the annuity owner dies during the accumulation period without naming a beneficiary. Annuitys cash value exceeds premium paid

the cash value will be paid to the annuitants estate