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3 July, 09:35

If an annuity is purchased in December and monthly benefits begin in January of the following year, what type of annuity is it?

a. Variable Retirement Annuityb. Single Premium Fixed Annuityc. Flexible Premium Tax Sheltered Annuityd. Single Premium Immediate Annuity

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  1. 3 July, 11:40
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    Option D

    Explanation:

    A single premium immediate annuity relates to the insurance company arrangement whereby one really pay them a large sum of money right up front (widely referred to as a premium price) and so on. The company promise to regularly (monthly, for example) give you a specific amount of benefits for the remaining of one's lifetime.

    Income payments both for instant annuities are made on the basis of non-taxed main yields and earnings payouts that are taxed at levels of income tax instead of levels of capital gain.
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Home » Business » If an annuity is purchased in December and monthly benefits begin in January of the following year, what type of annuity is it? a. Variable Retirement Annuityb. Single Premium Fixed Annuityc. Flexible Premium Tax Sheltered Annuityd.
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