Virginia Insurance Virginia Life, Annuities, and Health Insurance Examination Series 11-01 Virginia-Life-Annuities-and-Health-Insurance Question # 27 Topic 3 Discussion
Virginia Insurance Virginia Life, Annuities, and Health Insurance Examination Series 11-01 Virginia-Life-Annuities-and-Health-Insurance Question # 27 Topic 3 Discussion
An individual purchased an annuity with a series of premium payments continuing over a period of twenty years. The purchase payments were made during the:
The accumulation period (D) is the phase in a deferred annuity where premiums are paid to build value before payouts begin.
The liquidation period (A) is not a standard term here; it might imply payout but isn’t correct.
The annuity period (B) is when payments are received, not paid.
Period certain (C) refers to a payout option, not premium payment phase.
The Virginia study guide defines the accumulation period as the time during which premium payments are made into a deferred annuity, accumulating value until the payout phase. Reference: Virginia Life, Annuities, and Health Insurance study guide, section on "Annuities."
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