Match the descriptions with their terms:
-A/An _________________ assures the annuitant that the purchase price will be paid out in benefits. If the annuitant dies before the purchase price has been paid out, the regular benefit payments continue until the difference is paid.

Question

Quizplus · Accepted Answer

An installment refund guarantee ensures that the total amount paid in benefits will at least equal the purchase price of the annuity. If the annuitant dies before receiving the full purchase price in payments, the annuity continues to pay out to a beneficiary until the full purchase price has been distributed.

Match the Descriptions with Their Terms