Annuities

In general terms, IRA contributions

are tax deductible

which of the following is not true regarding the annuitant?

the annuitant cannot be the same person as the annuity owner

all of the following statemtents are true regarding installments for a fixed amount except?

the payments will stop when the annuitant dies

The president of a company is starting an annuity and decides that his corporation will be the annuitant. which of the following is true?

The annuitant must be a natural person

If the annuitant dies during the accumulation period, who will receive the annuity benefits?

the beneficiary

what qualifies an individual to contribute to an IRA

Earned income

the annuity owner dies during the accumulation period without naming a beneficiary. Annuity's cash value exceeds premium paid. Which of the following is true

the cash value will be paid to the annuitant's estate

Which of the following are true regarding a qualified annuity except

at distribution, all amounts received by the employee are tax free

all of the following statements are true of a non qualified retirement plan except

contributions are tax exempt

under which of the following annuity options does the annuitant select the time period for the benefits, and the insurer determines how much each payment will be?

installments for a fixed period

which of the following are true regarding the annuity period

it may last for the lifetime of the annuitant

which of the following is not true regarding the accumulation period of an annuity?

it would not occur in a deferred annuity