Annuity Benefit Payment Options
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Question 1 of 10
1. Question
The annuity period is the time
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Question 2 of 10
2. Question
Lucille wants to receive annuity payments for as long as she lives. She wants her monthly payments to be as large as possible and is not concerned about what happens after she dies. Which benefit payment option should she choose?
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Question 3 of 10
3. Question
Mike and Sarah would like to purchase an annuity that will pay a specified amount per month while they are both alive, and then will pay the survivor 50% of that amount when one of them dies. Which type of annuity should they purchase?
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Question 4 of 10
4. Question
Peter chose the life with guaranteed minimum annuity benefit payment option. What will happen if Peter dies before receiving the guaranteed number of payments?
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Question 5 of 10
5. Question
Which of the following is NOT a life contingent annuity benefit payment option?
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Question 6 of 10
6. Question
Compared to pure life, the life with guaranteed minimum payment option provides
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Question 7 of 10
7. Question
With an annuities certain benefit payment option, the number of payments received by the annuitant
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Question 8 of 10
8. Question
Stephanie has a ten year period certain annuity. What will happen if she dies before receiving ten years of monthly payments?
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Question 9 of 10
9. Question
What does it mean if an annuity benefit payment option is life contingent?
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Question 10 of 10
10. Question
Pedro and Maria are annuitants on an annuity they recently purchased. While both annuitants are alive, they are receiving $1000 per month. When one of them dies, the payments will stop. Which type of annuity is this?
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