One type of deferred annuity allows the purchaser to invest a lump sum for a specified time period.The interest rate paid on the deposit is typically higher than the rate of return paid on certificates of deposit offered by banks.This type of deferred annuity is a(n)
A) longevity annuity.
B) multi-year guaranteed annuity (MYGA) .
C) installment refund annuity.
D) qualified longevity annuity contract (QLAC) .
Correct Answer:
Verified
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A)Minimum
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