Chapter 7 test (mastered) review

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

An immediate annuity

Variable annuities may infest premiums in each of the following, except

And chores corporate business account

What type of contract liquidate an estate for recurrent payments

Annuity

What is considered to be a characteristic of an immediate annuity?

Benefit payments start within one payment period of purchase

The payments on Q's annuity are no less than $250 quarterly. Which of the following annuities does Q own?

Flexible Installment Deferred

Which of these is an element of a single premium annuity

Lump-sum payment A lump-sum payment is required for a Single Premium annuity.

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

Payments are made to an annuitant for life

He has inherited a large lump sum of money. K purchases and annuity with his some 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 did purchase

Single premium immediate joint with survivor annuity

A variable annuity has which of the following characteristics

Underlying equity investments

Individual who purchases a life annuity is given protection against

the risk of living longer than expected