5 Questions
What is the key benefit of the Joint Life Last Survivor Annuity option?
Return of 100% of purchase price on death of the last survivor
What happens to the annuity payouts in the event of the primary annuitant's death in the Single Life Annuity option?
Payouts cease immediately
What is the consequence of choosing an Annuity option and Annuity Instalment mode at policy inception?
They cannot be changed at a later stage
What is the primary purpose of the return of purchase price feature?
To act as a safety net for the family in case of death
What is the outcome of the policy in the event of the death of the last survivor in the Joint Life Last Survivor Annuity option?
Policy terminates and purchase price is paid to nominee(s)/legal heirs
Annuity Options Quiz: Test your knowledge about annuity options, guaranteed lifetime income, and payout methods. Learn about the flexibility to choose annuity insurance and key benefits. Challenge yourself with this quiz to enhance your understanding of financial planning and retirement income strategies.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
