Travis has purchased an annuity to help offset the cost of retirement and reduce the likelihood that he will outlive his other benefits. He is guaranteed an immediate income benefit of $2,000 per month, which means he has a ________ annuity.

Question

Quizplus · Accepted Answer

A fixed annuity provides a guaranteed payout amount, such as $2,000 per month, which is what Travis has.

Travis Has Purchased an Annuity to Help Offset the Cost