Question: 3. By definition, what is the difference between immediate annuities and deferred annuities? a. when interest is credited to the contract b. when the contract

3. By definition, what is the difference between immediate annuities and deferred annuities?

a. when interest is credited to the contract

b. when the contract is scheduled to annuitize

c. the available investment options for premium deposits

d. the initial premium amount that can be invested

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