An Annuity Contract Provides

question 212

Multiple Choice

An annuity contract provides:

• A) Either immediately or at some future date, periodic income payments to one or more persons, perhaps with a certain guaranteed number of payments or with a minimum guaranteed amount for those annuities not having life contingencies
• B) Either immediately or at some future date, periodic income payments to one or more persons, perhaps with a certain guaranteed number of payments or with a minimum guaranteed amount for those annuities involving life contingencies
• C) Either immediately or at some future date, perpetual income payments to one or more persons, perhaps with a certain guaranteed number of payments or with a maximum guaranteed amount for those annuities involving life contingencies
• D) Either immediately or at some future date, periodic income payments to one or more persons, perhaps with a certain small number of payments

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Definitions:

Counterclaim

A legal claim brought against the plaintiff by the defendant, typically in response to the original lawsuit.

Affirmative Defense

A defense in which the defendant introduces evidence, which, if found to be credible, will negate criminal or civil liability, even if it is proven that the defendant committed the alleged acts.

Plaintiff

The party who initiates a lawsuit by filing a complaint with the court.

Damages

A monetary compensation awarded by a court to a person who has suffered loss or harm due to the unlawful act or negligence of another party.