You wish to buy an annuity that makes monthly payments for as long as you live Describe what happens to the purchase price of the annuity as (a) Your age at the time of purchase goes up, (b) The size of the monthly payment rises, (c) Your health improves ...

a The number of expected monthly payments declines so ...

You wish to buy an annuity that makes monthly payments for as long as you live. Describe

Question:

You wish to buy an that makes monthly payments for as long as you live. Describe what happens to the purchase price of the as
(a) Your age at the time of purchase goes up,
(b) The size of the monthly payment rises,
(c) Your health improves.

Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...