Question
3.Cassie, age 62, paid a life insurer $100,000 in exchange for a life annuity. If Cassie dies before receiving 120 monthly payments from the insurer,
3.Cassie, age 62, paid a life insurer $100,000 in exchange for a life annuity. If Cassie dies before receiving 120 monthly payments from the insurer, the remaining payments will be made to a beneficiary. If Cassie dies after receiving 120 payments, no additional payments are made by the insurer. Cassie has purchased a(n)
Group of answer choices
life annuity, no refund.
life annuity with guaranteed payments.
installment refund annuity.
cash refund annuity.
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Options For Volatile Markets Managing Volatility And Protecting Against Catastrophic Risk
Authors: Richard Lehman, Lawrence G. McMillan
2nd Edition
1118022262, 978-1118022269
