Which of the following is an advantage of a longevity annuity (longevity insurance)?
A) Death benefits are paid to a beneficiary if death occurs during the deferral period.
B) The interest rate credited to the cash value is higher than what is earned on traditional life insurance.
C) Monthly benefits begin at an advanced age when other assets are likely to have been depleted.
D) The policyowner has unrestricted access to the funds during the deferral period through loans and cash withdrawals.
Question 2
Some insurers offer a single-premium deferred annuity that does not begin paying benefits until an advanced age, such as 85. This product is called
A) endowment insurance.
B) equity-indexed annuity.
C) life income with guaranteed payments annuity.
D) longevity insurance.
Balancing selection and heterozygote advantage.
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