Questions for life & health
when does an immediate annuity begin making payments
after first premium has been paid
when does an immediate annuity begin making payments?
after first premium is paid.
disadvantage to fixed annuities
during times of inflation, annuitants have decrease in purchasing power of their payments
Fixed annuities provide all of the following EXCEPT guaranteed interest retirement funds hedge against inflation tax advantage
hedge against inflation
what happens to interest earned if annuitant dies before payout start date?
its taxable
immeidate annutiy been purchased with a single premium - when does annuitant recieve benefit payments
1 monthafter
how soon can benefit payments begin with deferred annuities
minimum of 12 months after purchase date
non qualified annuity interest taxed (when)
once the exclusion ratio has been calculated
what annuity payout option allows policy owner to choose a pre determined number of benefit payments
period certain
if annuitant dies before annuity start date
premiums paid plus interest are paid to beneficiary
if you purchase a fixed immediate annuity then your payment amount will be dependent on
principal, interest, and the contracts *income period*
what is an annuity certain
provides guaranteed accumulation or payout
which of these has highest monthly payout upon annuitization life w period certain joint and survivor life straight life joint life
straight life
if annuitant dies during accumulation period, what does the beneficiary get
the greater of cash value or total premium paid