ENTREPRENEURIAL PLANNING
FINANCIAL PLANNING AND ANALYSIS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An amount of money an insurance company pays to a person who has previously deposited money with the company.
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annuity
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pension
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -An annuity is a contract between you and an insurance company that requires the insurer to make payments to you, either immediately or in the future. An Annuity plan offers a fixed amount of money for the rest of your life in return for a lump sum payment or a series of instalments. COMP/DOC/Nov/2022/2811/1623.
Detailed explanation-2: -Immediate annuities: The lifetime guaranteed option. Deferred annuities: The tax-deferred option. Fixed annuities: The lower-risk option. Variable annuities: The potentially highest upside option. 16-Nov-2022
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