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(a) List FIVE (5) reasons for not replacing an insurance policy.(10 marks) (b) Describe the features of the following types of Annuities: (i) Joint and

(a) List FIVE (5) reasons for not replacing an insurance policy.(10 marks)

(b) Describe the features of the following types of Annuities:

(i) Joint and Survivor Annuities

(ii) Life Annuities with Period Certain

(iii) Deferred Annuity

(iv) Fixed Period Payment(16 marks)

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