Although both fixed and variable annuities can provide lifetime income to annuitants, they differ in important ways.
Question:
a. Determining how the premiums are invested
b. Stability of income payments after retirement
c. Death benefits if the annuitant dies before retirement
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,...
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a The insurer determines how the premiums are invested in a fixed annuity As such the investment ris...View the full answer
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Related Book For 
Principles of Risk Management and Insurance
ISBN: 978-0132992916
12th edition
Authors: George E. Rejda, Michael McNamara
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