Chris,age 52,invested $50,000 in a 10-year deferred annuity that pays an interest rate higher than the rate offered on bank certificate of deposits.After 10 years,Chris can annuitize the account balance,withdraw part of all of the balance,or leave the funds invested at a renewed rate of interest.The deferred annuity contract Chris purchased is a

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The best choice for Chris would be a multi-year guaranteed annuity (MYGA) because it offers a higher interest rate than most bank certificate of deposits, and it allows him to choose whether to annuitize the account balance, withdraw part or all of the balance, or leave the funds invested at a renewed rate of interest after 10 years. This flexibility gives Chris more control over his money and ensures that he can make the best decision based on his financial situation at the time.

Chris,age 52,invested $50,000 in a 10-Year Deferred Annuity That Pays