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37. Joan invested $100,000 in a variable annuity. At the end of ten years, the value of Joan's contract had dropped to $82,000. The insurer added $18,000 to Joan's contract, bringing its values to $100,000, and Joan takes the $100,000 in a lump-sum. Which of the following statements is true? a Joan invested $18,000 of her annuity contract in the insurer's fixed account. ob. Joan's contract contains an enhanced death benefit provision. oc Joan purchased a guaranteed income benefit rider. od. Joan purchased a guaranteed minimum accumulation benefit rider. 38. The benefit provided under a guaranteed minimum income benefit rider is only mrailable

37. Joan invested $100,000 in a variable annuity. At the end of ten years, the value of Joan's contract had dropped to $82,000. The insurer added $18,000 to Joan's contract, bringing its values to $100,000, and Joan takes the $100,000 in a lump-sum. Which of the following statements is true? a Joan invested $18,000 of her annuity contract in the insurer's fixed account. ob. Joan's contract contains an enhanced death benefit provision. oc Joan purchased a guaranteed income benefit rider. od. Joan purchased a guaranteed minimum accumulation benefit rider. 38. The benefit provided under a guaranteed minimum income benefit rider is only mrailable

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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37. Joan invested $100,000 in a variable annuity. At the end of ten years, the value of Joan's contract had dropped to $82,000. The insurer added $18,000 to Joan's contract, bringing its values to $100,000, and Joan takes the $100,000 In a lump-sum. Which of the following statements is true? a Joan invested $18,000 of her annuity contract in the insurer's fixed account. ob. Joan's contract contains an enhanced death benefit provision. oc loan purchased a guaranteed income benefit rider. od. Joan purchased a guaranteed minimum accumulation benefit rider. 38. The benefit provided under a guaranteed minimum income benefit rider is only available a. if the contract is surrendered ob. if the contract is annuitized oc for owners who elect a systematic withdrawal option Od. for owners who elect a joint and survivor payout option 39. When he purchased his variable annuity contract, Jerry also purchased a rider that guarantees that, at the end of the tenth contract year, his contract's value will be no less than the amount he invested. What kind of rider did Jerry purchase? a. a guaranteed minimum income benefit rider ob. a guaranteed minimum accumulation benefit rider OC a guaranteed minimum withdrawal benefit rider Od. a guaranteed minimum deposit benefit rider
Transcribed Image Text:37. Joan invested $100,000 in a variable annuity. At the end of ten years, the value of Joan's contract had dropped to $82,000. The insurer added $18,000 to Joan's contract, bringing its values to $100,000, and Joan takes the $100,000 In a lump-sum. Which of the following statements is true? a Joan invested $18,000 of her annuity contract in the insurer's fixed account. ob. Joan's contract contains an enhanced death benefit provision. oc loan purchased a guaranteed income benefit rider. od. Joan purchased a guaranteed minimum accumulation benefit rider. 38. The benefit provided under a guaranteed minimum income benefit rider is only available a. if the contract is surrendered ob. if the contract is annuitized oc for owners who elect a systematic withdrawal option Od. for owners who elect a joint and survivor payout option 39. When he purchased his variable annuity contract, Jerry also purchased a rider that guarantees that, at the end of the tenth contract year, his contract's value will be no less than the amount he invested. What kind of rider did Jerry purchase? a. a guaranteed minimum income benefit rider ob. a guaranteed minimum accumulation benefit rider OC a guaranteed minimum withdrawal benefit rider Od. a guaranteed minimum deposit benefit rider
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