GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Affinity sales
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Annuitization
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Proximate Clause
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Annuity Accumulation Phase
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Detailed explanation-1: -The accumulation phase is also a specific period when an annuity investor is in the early stages of building up the cash value of the annuity. This building phase is followed by the annuitization phase, where payments are paid out to the annuitant.
Detailed explanation-2: -The accumulation phase refers to the time in the life cycle of an investment when an individual or an investor builds up the value of their annuity or investment. It is the second phase in the process of investing.
Detailed explanation-3: -Deferred annuities may be purchased with a single premium or with periodic or flexible premiums. Periodic income payments begin at a specified date, often age 65. The period between the purchase date and the date the income payments begin is called the deferral or accumulation period.