Recent Lessons

Show all results for ""

Feature Overview

Ace your exams with our all-in-one platform for creating and sharing quizzes and tests.

Quizzes

Create quizzes and tests automatically from your content using AI.

Flashcards

Automatically turn your notes into digital flashcards.

Share, Export & Embed

Share with classmates or export to Excel and your learning management system.

Stats & Reporting

Auto-grading quizzes and tests with detailed stats and reports.

Mobile Apps

The smarter way to study – wherever you are.

Pricing

Search...

5 Questions

1 Views

Annuity Options Quiz

Choose a study mode

Play Quiz

Study Flashcards

Spaced Repetition

Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the key benefit of the Joint Life Last Survivor Annuity option?

Guaranteed lifetime income for the primary annuitant

Return of 100% of purchase price on death of the last survivor (correct)

Flexibility to choose annuity instalment mode

Safety net for family through return of purchase price in case of death

What happens to the annuity payouts in the event of the primary annuitant's death in the Single Life Annuity option?

Payouts are adjusted based on market conditions

Payouts cease immediately (correct)

Payouts are doubled for the next year

Payouts continue to the nominee

What is the consequence of choosing an Annuity option and Annuity Instalment mode at policy inception?

They cannot be changed at a later stage (correct)

They are automatically adjusted based on market conditions

They can be changed at any time

They can only be changed after 5 years

What is the primary purpose of the return of purchase price feature?

<p>To act as a safety net for the family in case of death</p> Signup and view all the answers

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?

<p>Policy terminates and purchase price is paid to nominee(s)/legal heirs</p> Signup and view all the answers

Annuity Options Quiz

Choose a study mode

Podcast

Questions and Answers

What is the key benefit of the Joint Life Last Survivor Annuity option?

What happens to the annuity payouts in the event of the primary annuitant's death in the Single Life Annuity option?

What is the consequence of choosing an Annuity option and Annuity Instalment mode at policy inception?

What is the primary purpose of the return of purchase price feature?

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?

More Like This

LIC Jaivik Annuity Plan Quiz

Edelweiss Tokio Life Insurance Plan: Single Pay Endowment Assurance

Final Expense Insurance Plan

Cancer Insurance Plan

Upgrade to continue