- Study guides, Class notes & Summaries

accumulation period/units - a $5,000 prem deposit in a VA in which the units are valued at $5, would purchase 1,000 accumulation units. New prem pmts change the number of accumulation units in a purchaser's account, and market fluctuations change each unit's value, so remember that both the number and value of accumulation units change Accumulation Phase - the period of time by which the owner of the contract pays in to the annuity; a beneficiary must be named if the policy owner dies dur...

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11 pages

Written in 2023/2024

Grade A+

ACADEMICMATERIALS

Other names for pure life settlement - Answer--life income -life annuity What annuity settlement option produces the largest monthly income guaranteed for life? - Answer-pure life settlement option second life contingency option - Answer-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...

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8 pages

Written in 2023/2024

Grade A+

QUEENSEXAMS

MICHIGAN VARIABLE ANNUITIES EXAM 2024 WITH 100% CORRECT ANSWERS Other names for pure life settlement - correct answer -life income -life annuity What annuity settlement option produces the largest monthly income guaranteed for life? - correct answer pure life settlement option second life contingency option - correct answer 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 t...

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11 pages

Written in 2023/2024

Grade A+

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