Annuities
which of the following is NOT true reguarding the annuitant?
The annuitant cannot be the same person as the annuity owner
when a fixed annuity owner pays his/her insurance company a monthly annuity premium, where is the money placed?
The insurance company general account
which of the following is NOT a term for the period of time during which the annuitant or the beneficiary receives income?
accumulation
In deferred annuity, the difference between the accumulation value and the surrender value is the
surrender charge
which of the following terms are associated with the way an annuity is funded?
Single premium and periodic payments
which of the following is NOT true about a group annuity?
it can be owned by individual employees
if a retirement plan or annuity is qualified, this means
it satisfies IRS requirements for favorable tax treatment