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Annuties

Life Basics

QuestionAnswer
Annuities are classified as? a -method of payment b -number of lives covered c -payment of proceeds d -dollar amount payments of proceeds
The time when an annuitant contributes to an annuity is called? a -the annuity appreciation b -the accumulation period c -the deferred growth d -the savings period the accumulation period
If an insured inherited a large amount of money at 40, desired to use it to provide a guaranteed income after retirement at 60, she would probably buy an Annuity that is which of the following a -immediate b -flexible premium c -deferred d -variable deferred
Which of the following statements is UNTRUE about fixed annuities? a -they are characterized by a general account b -their interest rates are guaranteed c -their monthly pay out amount can vary d -the annuity carrier assumes all the interest rate risk their monthly pay out amount can vary
All the following are true about annuities EXCEPT? a -to eliminate paying taxes in retirement years b -to shelter money to avoid paying taxes in income earning years c -to systematically withdraw an accumulated sum of for retirement d -to liquidate an to eliminate paying taxes in retirement years
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Created by: comphy
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