« previous next »

Author Question: Cassie, age 62, paid a life insurer 100,000 in exchange for a life annuity. If Cassie dies before ... (Read 333 times)

Coya19@aol.com

  • Hero Member
  • *****
  • Posts: 601
on: Jul 11, 2018
Cassie, age 62, paid a life insurer 100,000 in exchange for a life annuity. If Cassie dies before receiving 120 monthly payments from the insurer, the remaining payments will be made to a beneficiary.
 
  If Cassie dies after receiving 120 payments, no additional payments are made by the insurer. The annuity option Cassie selected it
  A) life annuity, no refund.
  B) life annuity with period certain.
  C) installment refund annuity.
  D) cash refund annuity.

Question 2

Brad funded a life annuity through installment payments. At age 60, he decided to elect an annuity settlement option and to begin to receive payments.
 
  Which of the following annuity payout options will provide Brad with the highest monthly income?
  A) life annuity (no refund)
  B) life income with payments guaranteed for 5 years
  C) life income with payments guaranteed for 10 years
  D) installment refund annuity


chreslie

  • Sr. Member
  • ****
  • Posts: 307
Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: B

Answer to Question 2

Answer: A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Fossils Give Us a View of Past Life Fossils Give Us a View of Past Life
Do atheists have faith in life from non-life? Do atheists have faith in life from non-life?
The impact of industry and manufacturing on our life The impact of industry and manufacturing on our life
Dynamics of Capillary Exchange Dynamics of Capillary Exchange
Life cycle of Pisum sativum Life cycle of Pisum sativum
Video: Genetic distance between human groups

For a complete list of videos, visit our video library