Which type of annuity best describes the following arrangement: equal payments over the life of the annuity? I. Ordinary annuity, II. Life Income annuity a. I only b. Both I and II c. None of the above
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A life income annuity is a series of equal payments made over the lifetime of the annuitant. In the given arrangement, equal payments are made over the life of the annuity. This description matches the life income annuity. Show more…
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