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9 months ago

Under a straight life annuity, if the annuitant dies before the principal amount is paid out, the beneficiary will receive?

Business

1 answer:

bezimeni [28]9 months ago

8 0

Nothing the payments will cease.

Payments:

For the balance of the annuitant's life, a straight or pure life annuity will provide a set sum of income. Regardless of the amount of unpaid principal, this payment will end at death. There are no compensation or refunds made to survivors.

The beneficiary will receive the amount placed into the plan or the cash value, whichever is larger, if the annuitant passes away before the payment term.

Banknotes and coins (cash), deposits, and credit on an account with a financial institution or a comparable entity that can be run using payment instruments are all considered means of payment.

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