GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Annuity
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No Pay
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Pure Life Annuity
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None of the Above
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Detailed explanation-1: -Pure Life Annuity. A pure life or lifetime annuity pays a benefit to the annuitant until death. The deceased’s estate or beneficiary will receive no benefits after that point. With such an annuity, there is no risk of outliving the retirement income they provide.
Detailed explanation-2: -A lifetime annuity provides income for the remaining life of a person (called the “annuitant”). A variation of lifetime annuities continues income until the second one of two annuitants dies. No other type of financial product can promise to do this.
Detailed explanation-3: -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