Types of Policies
What benefit does a joint and survivor annuity payout option provide to two annuitants (such as a married couple)?
Answer and explanation
Answer: C. Joint and survivor annuities pay income as long as either annuitant lives.Source: NAIC Annuity Buyer's Guide — PDF page 5, Joint and Survivor Payout
More types of policies questions
- An owner buys a $100,000 ordinary whole life policy. How do cash values accumulate over the life of the policy?
- An owner of a flexible-premium deferred annuity wants to know if they can continue making purchase payments in the future. Which statement is most accurate?
- As an ordinary whole life policy matures over time and cash values increase, what happens to the insurer's net amount at risk?
- At what point does a standard ordinary whole life policy reach its ultimate maturity date?
- Before buying variable life, an applicant wants authoritative product-specific details about fees, investment options, and death-benefit features. Which document should the applicant request?
- Compared with standard level term for the same face amount, how does return-of-premium term usually price the added refund feature?
590 Texas questions like this one.
Every answer explained, the ones you miss come back on a spaced schedule, and a plan built from your exam date.