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Health and Life Insurance

Category - Annuities & Policies

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Annuities fall into one of two categories based on when the payments are set to begin. When the income payments of the contract begin at some point into the future, this is called?

Immediate annuity
Single annuity
Deferred annuity
Flexible annuity

Explanation

Answer: C - When the income payment of the contract begins at some point in the future, this is referred to as a deferred annuity. Deferred annuities can be begin generating payments one year or several years from the date of purchase of the contract.

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Health and Life Insurance

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Health and Life Insurance

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