Annuities Flashcards
1
Q
Period certain=
A
Fixed period
2
Q
When a contract is Annuitized, it means ___.
A
income will begin to be withdrawn
3
Q
___ is an accounting measure upon which the amount of pay out is determined.
A
Annuity unit
4
Q
A variable annuity is a non-fixed ___.
A
Unit investment trust.
5
Q
Regarding taxation of non-qualified annuity random withdrawals, all ___ (LIFO).
A
Profits and growth are withdrawn first & fully taxed
