17

Question 1

Unpaid benefits following death of annuitant

Answer 1

Taxable when paid to beneficiary

Question 2

Life with period term certain

Answer 2

Another life contingency payout

Question 3

Life income with 20 year period certain option provides

Answer 3

Annuitant with income while annuitant is living for entire life

Question 4

If annuitant dies shortly after payments begin payments

Answer 4

Will be continued to benef for remainder of 20 year period

Question 5

Annuitant selects how much each payment will be and insurer determines how long benefits will be paid by analyzing value of acct and future earnings

Answer 5

Fixed amount installments

Question 6

Pays specific amount until funds are exhausted whether or not annuitant is living

Answer 6

Fixed amount installments

Question 7

Example of limited pay life policy

Answer 7

Life paid up at age 65

Question 8

Variable =

Answer 8

Separate acct

Question 9

Form of life annuity pays benefits through life of annuitant and guarantees payment for minimum years

Answer 9

Life income with period certain

Question 10

Lottery winner check each month for 25 years

Answer 10

Immediate annuity

Question 11

Why is equity indexed considered fixed annuity

Answer 11

It has guaranteed minimum interest rate