Term
| What are the two distinct periods in the life of an annuity |
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Definition
| Accumulation, annuitization |
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Term
| Which type of annuity has a guaranteed interest rate and benefit |
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Definition
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Term
| an annuity cannot be used as an investment vehicle to defer taxes on a company's assets t/f |
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Definition
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Term
| A woman places a large sum of money into an annuity and starts receiving benefits 90 days later, what type of annuity does she have? |
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Definition
| SPIA (single premium Immediate Annuity) |
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Term
| To assist an individual interested in purchasing a variable annuity, an agent should provided him/her with what? |
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Definition
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Term
| Variable annuity premiums are invested in what --- ---- during the accumulation period |
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Definition
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Term
| All annuity benefits are calculated using a --- --- --- at the beginning of the annuity period |
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Definition
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Term
| What can an annuity owner NOT change? |
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Definition
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Term
| Which annuity would never be issued a surrender charge |
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Definition
| SPIA (single premium immediate annuity) |
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Term
| Which annuity is ideal for education funding? |
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Definition
| SPDA (Single Prem deferred annuity) |
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Term
| Flexible Premium Deferred Annuities are normally purchased for what? |
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Definition
| To defer taxes on growth and accumulation |
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