What is a fixed-rate annuity, and how does it differ from a variable annuity? Does the type of contract (fixed or variable) have any bearing on the amount of money you’ll receive at the time of distribution?
Answer to relevant QuestionsHow do variable annuity returns generally compare to mutual fund returns? Can you explain why there would be any difference in returns?Use Exhibit to estimate the average Social Security benefits for a retired couple. Assume that one spouse has a part-time job that pays $24,000 a year, and that this person also receives another $47,000 a year from a company ...Why is it important to check an insurance company’s financial ratings when buying an annuity? Why should you look at past performance when considering the purchase of a variable annuity?Discuss the importance and goals of estate planning. Explain why estates often break up. Distinguish between the probate estate and the gross estate.What is the right of survivorship? What is community property, and how does it differ from joint tenancy with regard to the right of survivorship?
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