Brad funded a life annuity through installment payments. At age 60, he decided to elect an annuity settlement option and to begin to receive payments. Which of the following annuity payout options will provide Brad with the highest monthly income?a) life annuity (no refund).
b) life income with payments guaranteed for 5 years.
c) life income with payments guaranteed for 10 years.
d) installment refund annuity.

Question

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10-03-2020
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Brad funded a life annuity through installment payments. At age 60, he decided to elect an annuity settlement option and to begin to receive payments. Which of the following annuity payout options will provide Brad with the highest monthly income?a) life annuity (no refund).
b) life income with payments guaranteed for 5 years.
c) life income with payments guaranteed for 10 years.
d) installment refund annuity.

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letmeanswer letmeanswer · Answer 1 · 2020-03-18T14:07:14+01:00

Life annuity (no refund) will provide Brad with the highest monthly income

Explanation:

A life tenancy is owed as long as the buyer (or the resident) stays. a monthly rent or a set of payments over a fixed time.

An insurance policy usually marketed or distributed by life insurance providers is a life pension scheme.

When the retainer expires, benefits shall proceed in a life of a cash redemption annuity and the remainder shall be charged to the receiver if the difference occurs in the value of insurance fees and the sum of the payouts.