Annuities

Which of the following is not included in an annuity contract

AD &D rider

P is 40 year old woman and would like to purchase an annuity that will provide a lifetime income stream beginning at age 60. Which of the following did she not buy

An immediate annuity

Which type of contract liquidates and estate through recurrent payments

Annuity

What is considered to be a characteristic of an immediate annuity

Benefit payments start within one payment period of purchase

PH 50 purchase an annuity that P will fund with 500 a month for 15 years the annuity and then pay P retirement payments after 15 years. Which type of annuity a P purchase

Deferred

A 45-year-old woman won $100000 in scratch off lottery ticket. She purchased an annuity that will pay her 1500 per month beginning at age 60. Which of these annuities do this woman purchase

Deferred fixed annuity

She purchased 100,000 single premium straight life annuity five years ago he has received monthly payment system inception of the annuity T dies the insurance company,

Does not have to make any further payments

N age 50 recently bought an annuity that will pay guarantee $2000 a month at 870 for life. What type of annuity did N purchase

Fix deferred

The payments on cues annuity are no less than 250 quarterly. Which of the following annuities does Q own

Flexible installment deferred

The type of annuity that can be purchased with one monetary deposit is called

Immediate annuity

W is a 39-year-old female who just purchased an annuity to provide and come for life starting at 860 all of these would be acceptable annuity choices except

Immediate annuity

8870 withdraws cash from a profit sharing plan and purchases a street life annuity what what is transaction provide

Income that cannot be outlived by the owner

All of the following statements regarding a tax sheltered annuity are true except

Income the ride from the TSA is received and come tax free

How does an index annuity defer from a fixed annuity

Indexed annuity owners may receive credited interest tied to the fluctuation of the linked index

Que is un a Norton currently receiving payments. If she were to die before receiving payment equal to the correct value of beneficiary will continue receiving payments until an amount equal to the contract value has been paid

Installment refund annuity

Variable annuities may invest premiums in each of the following except

Insurers corporate business account

T has an annuity that guarantees an income payment for the rest of his life. The contract also guarantees T dies before receiving payments for 20 years the remaining payments will be paid to his son for the balance of the 20 years. What type of annuity is this

Life annuity with period certain

Which of these is an element of single premium annuity

Lump sum payment

Which of these statements concerning an individual straight life annuity is accurate

Payments are made to an annuitant for life

Which of the following are equity indexed annuities typically invested

S& P 500

An immediate annuity consist of

Single premium

As recently received a $500 lump sum retirement buyout from her employer. She would like to buy an annuity that will immediately furnish her with a guaranteed income for life. What type of annuity is best suited for her situation

Single premium

K has inherited a large sum of money. K purchases in a new uni with this sum 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 decay purchase

Single premium immediate joint with survivor annuity

The annuity that represents the largest possible monthly payment to an individual annuitant is a

Straight life annuity

A contract owner terminates an annuity before the income payment period Begins. The owner will then receive

The Current contract surrender value

An individual who purchases a life annuity is given protection against

The risk of living longer than expected

What is the basic function of an annuity

The systematic liquidation of accumulated funds

A variable annuity has which of the following characteristics

Underlying equity investment

A ___ annuity pays benefits based on units rather than stated dollar amounts

Variable

What type of annuity has a cash value that is based upon the performance of his underlying investment funds

Variable