14.1d

Question 1

Annuity riders commonly added to an annuity include long-term care riders, guaranteed monthly income riders and ______, each providing extra benefits to the owner of the annuity as well as extra financial protection for the annuitant.

Answer 1

death benefit riders

Question 2

Although an annuity contract is not the same as a life insurance policy, both contracts can create similar protection depending on the ______. It is important to realize that an annuity is not life insurance, and each is treated and taxed differently.

Answer 2

structure of the annuity

Question 3

Most commonly, an annuity provides ______ for the contract’s owner, who is also the contract’s annuitant; however, some annuities are designed to be similar to the type of financial protection provided by a life insurance policy.

Answer 3

living benefits

Question 4

An annuity owner can pay the contract’s premiums and taxes on ______ and designate another individual as the contract’s annuitant, who receives the distributed funds during the contract’s designated annuity period.

Answer 4

earned interest

Question 5

(Senior Citizen)Considered anyone over the age of 65, each State addresses the ethical standards required of selling, transferring, or forfeiting an annuity contract. Licensed agents are regulated according to replacement standards through a reasonable assessment of the individual’s situation and financial intentions, as well as making the individual aware of the liquidity limitations and any ______ that might be assessed to the individual.

Answer 5

surrender charges