Question

How is a pension typically provided to individuals upon retirement?

a.

Through a lump sum payment

b.

By purchasing an annuity

c.

By taking out a loan

d.

By investing in stocks and bonds

Answer: (b).By purchasing an annuity Explanation:A pension is typically provided to individuals upon retirement by purchasing an annuity, which offers regular income payments.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. How is a pension typically provided to individuals upon retirement?

Recommended Subjects

Are you eager to expand your knowledge beyond IC38 Life Insurance Agent Exam? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!