Which of the following types of annuities guarantees that the annuitant and/or beneficiary will receive, during the liquidation period, minimum payments equal to the single premium in an immediate annuity or the accumulation value in a deferred annuity?
A)Temporary annuity
B)Refund annuity
C)Joint annuity
D)Deferred annuity
E)Structured settlement annuity

Question

Quizplus · Accepted Answer

A refund annuity guarantees that the annuitant and/or beneficiary will receive, during the liquidation period, minimum payments equal to the single premium in an immediate annuity or the accumulation value in a deferred annuity. This ensures that the total amount paid out will at least equal the amount paid in, providing a refund of the principal amount if the annuitant dies before fully recouping the initial investment.

Which of the Following Types of Annuities Guarantees That the Annuitant