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Question
______is an annual payment made by a life insurance company is consideration from a lump sum received.
______is an annual payment made by a life insurance company is consideration from a lump sum received.
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Solution
The correct option is C Annuity
An annuity consideration is the money an individual pays to an insurance company in exchange for a financial instrument that provides a stream of payments for a given length of time. An annuity consideration may be made as a lump sum or as a series of gradual payments.
An annuity consideration is the money an individual pays to an insurance company in exchange for a financial instrument that provides a stream of payments for a given length of time. An annuity consideration may be made as a lump sum or as a series of gradual payments.
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