A policy that makes payments to the owner monthly for her entire life is called:

Question

Quizplus · Accepted Answer

An annuity is a type of insurance contract that guarantees the owner a steady stream of income payments for their lifetime or a specified period. It is designed to provide the policyholder with a regular income stream during retirement, and the payments can be made on a monthly, quarterly, or yearly basis. Whole life insurance and universal life insurance are types of life insurance policies that provide death benefits to beneficiaries, while disability insurance is designed to provide income replacement in case the policyholder becomes disabled and cannot work.

A Policy That Makes Payments to the Owner Monthly for Her