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All of the following statements concerning annuities are correct EXCEPT The pure life annuity is ideal for the person who needs maximum income spread out
All of the following statements concerning annuities are correct EXCEPT
The pure life annuity is ideal for the person who needs maximum income spread out over a lifetime and has no living dependents to whom he or she wishes to leave assets.
A life annuity with guaranteed minimum payments ensures that the annuitant either receives a minimum number of payments, or will have lifetime income; whichever is greater.
An installment refund annuity is an annuity that allows the annuitant to get a refund of his or her principle remaining at any time.
A joint and survivor annuity is an annuity based on the lives of two or more annuitants, usually husband and wife.
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