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Health and Life Insurance

Category - Annuities & Policies

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Compared to a life annuity period certain, a temporary annuity certain varies to what degree?

Life annuity period certain pays out for a specified period of time
Life annuities pay out increasing payments for the life of the survivor
Temporary annuity certain pays out for a specified time
Temporary annuity certain pays out increasing payments for the life of the survivor

Explanation

Answer: C - A temporary annuity certain pays out for a specified time and then stops. Under this plan, the company will guarantee payments for a pre-determined number of years. Because the guarantee is only for a set number of years, if the annuitant dies before then, the beneficiary will receive the remaining payments.

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