Principles of Risk Management and Insurance 13th Edition by George Rejda,Michael McNamara

تمرين 1

Although both fixed and variable annuities can provide lifetime income to annuitants, they differ in important ways. Compare and contrast (1) a fixed annuity with (2) a variable annuity with respect to each of the following:
a. Determining how the premiums are invested
b. Stability of income payments after retirement
c. Death benefits if the annuitant dies before retirement