9/8/26, 9:58 AM Michigan Variable Annuities EXAM QUESTIONS AND VERIFIED SOLUTIONS |2026/2027| Exam Questions & Answers Test || ELAB…
Michigan Variable Annuities EXAM QUESTIONS
AND VERIFIED SOLUTIONS |2026/2027| Exam
Questions & Answers Test || ELABORATED
&DETAILED ANSWERS!!
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Terms in this set (84)
Other names for pure life settlement -life income
-life annuity
What annuity settlement option pure life settlement option
produces the largest monthly income
guaranteed for life?
https://quizlet.com/1205792721/michigan-variable-annuities-exam-questions-and-verified-solutions-20262027-exam-questions-answers-test-elaborat… 1/15
, 9/8/26, 9:58 AM Michigan Variable Annuities EXAM QUESTIONS AND VERIFIED SOLUTIONS |2026/2027| Exam Questions & Answers Test || ELAB…
second life contingency option life with period certain (ie. 10 years) so even if the
annuitant does or does not die within that timeframe,
insurer guarantees to continue the annuity payments
to a named beneficiary for the balance of the certain
period.
third life contingency option life with refund; insurer guarantees payments for life,
but if the annuitant dies before the payments received
equal the annuitant's basis (the total amount paid for
the annuity), then the insurer agrees to pay out the
remaining basis to a named beneficiary
which annuity settlement option b
provides the largest monthly income
payment?
a. life with period certain
b. pure life option
c. life with refund
how long is the free-look period for 10 calendar days after purchase date (eligible for full
Michigan annuity contracts refund including premium paid)
https://quizlet.com/1205792721/michigan-variable-annuities-exam-questions-and-verified-solutions-20262027-exam-questions-answers-test-elaborat… 2/15
Michigan Variable Annuities EXAM QUESTIONS
AND VERIFIED SOLUTIONS |2026/2027| Exam
Questions & Answers Test || ELABORATED
&DETAILED ANSWERS!!
Add to calendar
Play your way to mastery with fun games
Match Blocks Charms NEW
Terms in this set (84)
Other names for pure life settlement -life income
-life annuity
What annuity settlement option pure life settlement option
produces the largest monthly income
guaranteed for life?
https://quizlet.com/1205792721/michigan-variable-annuities-exam-questions-and-verified-solutions-20262027-exam-questions-answers-test-elaborat… 1/15
, 9/8/26, 9:58 AM Michigan Variable Annuities EXAM QUESTIONS AND VERIFIED SOLUTIONS |2026/2027| Exam Questions & Answers Test || ELAB…
second life contingency option life with period certain (ie. 10 years) so even if the
annuitant does or does not die within that timeframe,
insurer guarantees to continue the annuity payments
to a named beneficiary for the balance of the certain
period.
third life contingency option life with refund; insurer guarantees payments for life,
but if the annuitant dies before the payments received
equal the annuitant's basis (the total amount paid for
the annuity), then the insurer agrees to pay out the
remaining basis to a named beneficiary
which annuity settlement option b
provides the largest monthly income
payment?
a. life with period certain
b. pure life option
c. life with refund
how long is the free-look period for 10 calendar days after purchase date (eligible for full
Michigan annuity contracts refund including premium paid)
https://quizlet.com/1205792721/michigan-variable-annuities-exam-questions-and-verified-solutions-20262027-exam-questions-answers-test-elaborat… 2/15
