1) Annuities and life insurance often described as opposites because

A) The life insurance policy pays beneficiaries upon the death of the insured, while a life annuity pays income for the life of the annuitant.

B) All of the listed

C) Annuities provide protection against late death, living beyond one's assets

D) Life insurance provides economic protection for early death

2) Life insurance companies that do not offer term policies at advanced ages, but still sell whole life insurance to older individuals. Why?

a) Because term life insurance policies include a significant lump sum deposit of cash value.

b) Because whole life policies provide opportunities for investment income to offset or subsidize the significant mortality risk of advanced age.

c) None of the listed

D) Because term life insurance policies build cash value, while whole life policies do not.