Question
Maria, age 63, has inherited $250,000 from her mother. Since her family has a long life expectancy, she is concerned about running out of money
Maria, age 63, has inherited $250,000 from her mother. Since her family has a long life expectancy, she is concerned about running out of money in her old age. What kind of annuity is most appropriate for her?
Group of answer choices
Life annuity with a refund feature
Straight life annuity
Temporary annuity
No annuity - buy life insurance instead
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Case Studies In Finance
Authors: Robert Bruner, Kenneth Eades, Michael Schill
6th Edition
0073382450, 978-0073382456
