Annuities Are Most Beneficial for Individuals Who Expect to Live

question 73

True/False

Annuities are most beneficial for individuals who expect to live only a short time.

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Definitions:

Maximum Available

The highest amount or quantity that can be used, offered, or allocated from a particular resource or within a specific framework.

Straight-life Policy

A type of life insurance policy that provides coverage for the insured's entire lifetime, with fixed annual premiums and a guaranteed death benefit.

Loan Value

The amount that an insured may borrow on a policy from the insurance company.

Life Policy

An insurance contract that pays out a sum of money either on the death of the insured person or after a set period.