Risk Management and Insurance > EXAM > California Life, Accident, and Health Insurance Final Exam Questions and Answers Already Passed (All)
California Life, Accident, and Health Insurance Final Exam Questions and Answers Already Passed
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What distinguishes a deferred annuity from an immediate annuity? ✔✔The time at which benefit payments start Cindy buys a 10-year certain annuity with an installment refund. After receiving mont... hly payments for 5 years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? ✔✔60 payments What is a common reason people purchase an annuity? ✔✔To protect against the risk of outliving their financial resources What kind of annuity pays income to two annuitants until their deaths? ✔✔Joint and survivor annuity What is a joint and survivor annuity? ✔✔Provides payments the annuity to two people. If either person dies, the same income payments continue to the survivor for life. When the surviving annuitant dies, no further payments are made to anyone. [Show More]
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