What is a ‘life annuity contract’? How is its ‘actua

Question

What is a ‘life annuity contract’? How is its ‘actuarial present value’ determined?

30 Aug 2021

Answer :

Word Count : 297

The term life annuity refers to a financial product that features a predetermined periodic payout amount until the death of the annuity owner—called the annuitant. An annuitant typically pays into the annuity periodically when they are still working. Annuitants may also buy the annuity product in one large, lump-sum _______ _______ _____ _______ ___ _____ __________ _______ __________ _________ ______.
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