Even If It Is a Life Annuity, Payments Cannot Continue

question 69

True/False

Even if it is a life annuity, payments cannot continue until death.

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Definitions:

Fire Insurance Policy

A contract that provides financial compensation to the insured in case of fire damage to property or goods.

Destroyed

When something is damaged beyond repair or no longer exists in its original form.

Collect

To gather or assemble multiple items or amounts together; also refers to the act of receiving payment.

Insurance Policy

A contract between an insurer and the insured, detailing the terms under which the insurer agrees to provide financial protection against specified risks.