14.1e

Question 1

An example of when an annuity owner is not the annuitant is in a ______ annuity structure.

Answer 1

‘owner-driven’

Question 2

An owner driven annuity structure involves the owner and annuitant being two separate individuals and is designed to ______.

Answer 2

benefit the annuitant upon the death of the annuity’s owner

Question 3

In comparison to the owner driven annuity structure, the more common ‘annuitant-driven’ annuity structure involves the owner and annuitant being the same individual, and at the point of annuitization, payments are ______ in the event that the owner/annuitant dies within the contract’s annuity period.

Answer 3

made back to the owner/annuitant or the designated beneficiary

Question 4

The most common premium option is the ______. This single payment is invested by the contract owner initially and continues to grow as the insurer reinvests the annual earned interest back into the annuity.

Answer 4

single, lump-sum option

Question 5

A ______ premium structure allows an annuity contract owner to make equal premium payments to the insurer on a scheduled basis, such as on a monthly, quarterly, semi-annual, or annual basis. As premium deposits are made by the contract’s owner, both the invested principal and earned interest continue to build and grow the annuity.

Answer 5

level