Annuities

sliding.

Representing to the applicant that a specific ancillary coverage or product is required by law in conjunction with the purchase of insurance when such coverage or product is not required is an example of:

Variable Annuity

The type of annuity in which the values grow according to performance of the investment medium and in which the benefit may fluctuate according to market performance is called a:

Unilateral

Which of the following legal terms indicates that a life insurance contract contains the enforceable promises of only one party?

Life With Period Certain

Guaranteed income for the annuitant's lifetime; and if the annuitant dies before the period certain has expired, the policy pays the beneficiary in periodic installments until the end of the designated period. What annuity payout option is described?

Payout Period

Which annuity structure gives the recipient options of receiving returns for a specified term or for life, or a combination of both?

Two-thirds of the annuity units accumulated by the annuitant

An annuitant received monthly payments from a variable annuity under a Joint and Two-Thirds Survivor option. If the primary annuitant dies, what will the surviving annuitant receive?

The performance of the account was less than the previous month's performance.

An investor is in the annuity stage of a variable annuity purchased 15 years ago. During the present month, he receives a check for an amount less than the previous month's payment. What event(s) would have caused the check to be lower?

Starting principal, interest, and income period

The amount of an annuity payment is based upon which of the following factors?

Investment Configuration

The annuity _____________________ allows for a fixed rate of return or a variable rate of return.

two months

The data on the annual report provided to annuity owners which states the units credited to the contract and the dollar value of a unit must be updated no more than ____________ prior to the date the report is mailed.

Variable Annuities

____________ annuities use annuity units at time of retirement to determine the amount of benefits.