Chapter 5

which of the following is a feature of variable annuity

benefit payment amounts are not guaranteed

under a straight life annuity, if the annuitant dies before the principal amount is paid out, the beneficiary will receive

nothing; the payments will cease

which of the following is true regarding a waiver of a surrender charge on an annuity contract

the charge may be waived if the annuitant is confined to a long-term care facility for at least 30 days.

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

the insurance company

Which of the following is a short-term annuity that limits the amounts paid to a specific fixed period or until a specific fixed amount is liquidated

annuity certain

which of the following ultimately determines the interest rates paid to the owner of a fixed annuity

insurer's guaranteed minimum rate of interest