Q5. a. Explain the major characteristics of an equity-indexed annuity b. Explain the major characteristics of a longevity annuity Q6. An equity-indexed annuity and a variable annuity are both similar and different in many respects. a. Explain the major similarities between an equity-indexed annuity and a variable annuity. b. Identify the major differences between an equity-indexed annuity and a variable annuity