Annuities: Types, Features, and Considerations Quiz

Provides a regular income stream through periodic payments.

Dynamic annuity is not a recognized annuity type.

Fixed annuities offer a guaranteed minimum interest rate.

Payments in deferred annuities start after a specified waiting period.

Annuities are bought to ensure a reliable income stream.

Annuities can grow tax-deferred, offering potential advantages.

Life income with period certain is a common annuitization choice.

Retirees seeking guaranteed income benefit from annuities.

Surrender period is the duration before penalties are applied to withdrawals.

Variable annuities are susceptible to market volatility impacting returns.

The length of the surrender period is not a usual factor in determining annuity payouts.

Fixed-indexed annuities allow participation in market gains up to a limit.