Question

What do annuity plans provide for?

a.

Lump-sum payments upon the death of the policyholder

b.

Regular pension payments to the policyholder or their spouse

c.

Medical coverage for specific illnesses

d.

Investment opportunities in the stock market

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (b).Regular pension payments to the policyholder or their spouse Explanation:Annuity plans provide for a "pension" (or a mix of a lumpsum amount and a pension) to be paid to the policyholder or their spouse. In the event of the death of both of them during the policy period, a lump-sum amount annuity is provided for the next of kin.

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