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Years ago, Henry purchased a deferred annuity with a single premium payment of $25,000. He never took any distributions or withdrawals and today, the annuity's
Years ago, Henry purchased a deferred annuity with a single premium payment of $25,000. He never took any distributions or withdrawals and today, the annuity's value is $53,000. The contract provides for a traditional death benefit guarantee. If Henry were to die today, what death benefit would the contract pay? (Search Chapter 1)
a. $25,000
b. $28,000
c. $53,000
d. $78,000
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