Question 1018 of 287 · Texas Life, Accident and Health Agent Exam
Which annuity pays benefits beginning one year or less after a single lump sum purchase?
Exactly one answer is correct.
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Correct answer to question 1018
- A: Single premium immediate annuity
Explanation
A single premium immediate annuity (SPIA) is bought with one payment and starts payouts almost at once. Deferred annuities have an accumulation period first.
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