Annuity Principles and Concepts

Which of the following statements is NOT true about annuities?

Who sells annuities?

The primary purpose of annuities is to protect people from the risk of outliving their assets due to living a long time; people who die early compensate those that do what?

Who is the person whose age and life expectancy determines the amount or duration of annuity payments and is also usually the person who receives the annuity payments?

Who is the person who receives a benefit from an annuity, if the annuitant dies before receiving some or all of an annuity’s benefits?

The period of time when premium payments are paid into the annuity, and the money grows tax-deferred, can be called all of these EXCEPT which one?

What happens during the annuity period?

Which of the following correctly describes a difference between annuities and life insurance policies?

During the accumulation period of a deferred annuity, the annuity owner makes one or more payments into the annuity, and then what happens?

Which of the following is NOT another name for the annuity period?

The primary purpose of annuities is to protect people from which risk?

Which of the following is NOT true about annuities?

Sally is currently paying premiums into her annuity, and the money is growing tax-deferred. Which phase is the annuity in?

Which of the following statements is true?

Which of the following statements is true?