Question
A(n) _____ annuity is an annuity under which the first benefit payment is due one income payment interval after the annuity is purchased.
1. deferred
2. bonus
3. immediate
4. flexible premium
1. deferred
2. bonus
3. immediate
4. flexible premium
Answers
GPT-4o mini
The correct answer is **1. deferred**.
A deferred annuity is one where the first benefit payment is scheduled to occur after a specified period following the purchase of the annuity.
A deferred annuity is one where the first benefit payment is scheduled to occur after a specified period following the purchase of the annuity.