# 7 Annuities

which of these statements concerning an Individual Straight Life annuity is accurate?

Payments are made to an annuitant for life

The payments on Q's 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 a(n):

Immediate annuity

T, age 70, withdraws cash from a profit-sharing plan and purchases a Straight Life Annuity. What will this transaction provide?

Income that cannot be outlived by the owner

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 it's underlying investment funds?

variable

Which of the following are Equity Indexed annuities typically invested in?

S&P 500

S recently received a $500,000 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

Which of these is an element of a Single Premium annuity?

Lump-sum payment

A Variable Annuity has which of the following characteristics?

Underlying equity investments