An Annuity Is a Contract That Makes Monthly Payments as Long

question 77

Essay

An annuity is a contract that makes monthly payments as long as someone lives. Explain why an individual would want to purchase such a contract. What risk is being transferred?

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Definitions:

Existential Therapies

A group of psychotherapeutic approaches that emphasize dealing with existential questions and concerns, focusing on themes such as freedom, death, existential isolation, and meaninglessness.

Unconditional Positive Regard

A concept in client-centered therapy postulating that the therapist accepts and supports the client, no matter what they say or do, helping clients to feel more comfortable and open with their feelings.

Authentic

The quality of being genuine, true to oneself, and transparent in one’s interactions and existence.

Existential Therapies

A category of psychotherapeutic approaches that focus on individual free will, self-determination, and the search for meaning within the human experience.