A life annuity is an insurance product that pays out an income stream for as long as the annuitant is alive. It is a type of annuity that is purchased with a lump sum payment and pays out periodic payments, typically monthly, until the annuitant's death. What is a 5 year certain and life annuity? A 5 year certain and life annuity is an annuity that pays out for 5 years, guaranteed, and then as long as the annuitant is alive.
What is a 3 year certain and life annuity?
A 3 year certain and life annuity is a financial product that provides payments to the annuitant for three years, regardless of whether they live or die. After the initial three-year period, payments continue as long as the annuitant is alive. This type of annuity can provide peace of mind to annuitants who are worried about outliving their retirement savings. What settlement option in life insurance is known as straight life? The straight life settlement option is the most basic and simple option available. With this option, the policyholder receives a fixed amount of money each year for the rest of their life. There are no bells and whistles with this option, but it is the most guaranteed way to receive money from your life insurance policy.
Which type of annuity is best? There is no one-size-fits-all answer to this question, as the type of annuity that is best for an individual will depend on their specific circumstances and financial goals. However, some factors that could be considered when choosing an annuity include the individual's age, investment goals, and risk tolerance.
Which of the following best describes pure life annuity?
A pure life annuity is an annuity that pays out a fixed income for the rest of the annuitant's life, no matter how long they live. This type of annuity is typically used by people who want to ensure that they will have a steady income stream in retirement.