Annuities !

Front

When an annuity is written, whose life expectancy is taken into account?

Back

Annuitant

Front

The term “fixed” in a fixed annuity refers to all of the following EXCEPT: Death Benefit, Guaranteed Rate of Interest, Equal annuity payments, Amount and length of payments

Back

Death Benefit

Front

A couple receives a set amount of income from their annuity. When the wife dies, the husband no longer receives annuity payments. What type of annuity did the couple buy?

Back

Joint Life

Front

All of the following statements are true regarding installments for a fixed amount EXCEPT:
Value of the account and future earnings will determine the time period for the benefits.
This option pays a specific amount until the funds are exhausted.
The annuitant may select how big the payments will be.
The payments will stop when the annuitant dies.

Back

The payments will stop when the annuitant dies

Front

If a beneficiary is NOT named for annuity benefits, to which entity will the benefit be paid?

Back

the annitants estate

Front

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

Back

Beneficiary

Front

Which of the following are NOT fundable by annuities?
- Death benefits
- Cash accumulation for any reason
- a persons retirement
- estate liquidation

Back

Death benefits

Front

Under a pure life annuity, an income is payable by the company

Back

Only for the life of the annuitant

Front

The annuity owner dies during the accumulation period of his annuity. The cash value of his annuity exceeds the premiums he paid. There is no named beneficiary. Which of the following is true?

Back

The cash value will be paid to the annuitants estate.

Front

Which of the following is NOT true about a joint and survivor annuity benefit option?
This option guarantees income for two or more recipients.
The surviving annuitant may receive reduced payments.
Payments stop after the first death among the annuitants.
A period certain option may be included.

Back

Payments stop after the first death among the annuitants