Question

What is an "immediate annuity" in the context of pension plans?

a.

A plan that offers annuity payments after a long waiting period

b.

A lump sum payment upon retirement

c.

A plan that allows for lump-sum contributions

d.

A plan that provides annuity payments from the very next month of purchase

Answer: (d).A plan that provides annuity payments from the very next month of purchase Explanation:An "immediate annuity" in the context of pension plans provides annuity payments from the very next month of purchase.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What is an "immediate annuity" in the context of pension plans?

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!