When comparing life insurance to an annuity, an annuity:

a. Protects against the annuitant living too long

b. Provides tax-free payments for the lifetime of a beneficiary

c. Creates a lump sum benefit to be paid upon the annuitant's death

d. Guarantees a death benefit upon the insured's death

Answer: A

Life Insurance

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All of the following are true regarding rebates EXCEPT
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