Which of the Following Annuities Does Not Provide a Survivor

question 5

Multiple Choice

Which of the following annuities does not provide a survivor benefit?

• A)Installment Refund Annuity.
• B)Joint and Survivor Annuity.
• C)Life Only Annuity.
• D)Period Certain Annuity.

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Definitions:

Drawer

In financial terms, the individual or entity that writes and signs a cheque or draft, instructing a bank to pay a specified sum of money from the drawer's account.

Drawee

The party directed by a draft or check to pay a certain amount of money, typically a bank.

Payee

The individual or entity to whom money is paid or owes to be paid.

Negotiable Instrument

A negotiable instrument is a written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the characteristic of being transferable by endorsement or delivery.