Question
Who designates the annuitant?
1. The beneficiary
2. The remainderman
3. The insurer
4. The contract owner
1. The beneficiary
2. The remainderman
3. The insurer
4. The contract owner
Answers
GPT-4o mini
The correct answer is:
4. The contract owner
In most insurance contracts, the contract owner (who holds the policy) designates the annuitant. The annuitant is the individual whose life expectancy is used to calculate the benefits of the annuity.
4. The contract owner
In most insurance contracts, the contract owner (who holds the policy) designates the annuitant. The annuitant is the individual whose life expectancy is used to calculate the benefits of the annuity.