Under Which of the Following Does the Insurer Promise to Pay

question 19

Multiple Choice

Under which of the following does the insurer promise to pay the insured a fixed yearly amount,as guaranteed income,after the insured attains a specified age?

• A) Straight life policy.
• B) Whole life policy.
• C) Universal life policy.
• D) Annuity contract.

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Definitions:

Small Retail Businesses

Small-scale retail outlets that sell goods or services to consumers, often characterized by independent ownership and operation.

Part-Time Home-Based

Refers to employment or work that is performed from home for fewer hours than a full-time job.

Partnership

A lawful business structure where two or more people share both the management responsibilities and the profits.

General Motors

An American multinational corporation that designs, manufactures, markets, and distributes vehicles and vehicle parts.