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What is universal annuity life?

Updated: 9/25/2023
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Q: What is universal annuity life?
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Related questions

Is a flexible premium multifunded life insurance an annuity?

Its a Universal life insurance Policy.


What is a period certain annuity and a life annuity?

A period certain annuity is an annuity that pays out an income stream for a set period of time. A life annuity pays an income out for the lifetime of the annuitant (the person whose life the annuity is based on).


Is there a difference between a life annuity and an insurance annuity?

There isn't a real difference between life annuity and an insurance annuity. Both are a form of life insurance and deal with the same issues. I would go with either one.


Is an annuity a type of life insurance?

Yes an annuity is a life insurance product. Its kind of like the opposite of life insurance.


What is variable annuity life?

Annuity Life is a contract of insurance between you the buyer and the seller. Variable Annuity Life is a company that covers retirement groups for schools, colleges and Health care.


What is the annuity type called that guarantees to pay out an income equal to the purchase price of the annuity?

Refund Life Annuity


Where can I find information on a single life annuity?

If you are living alone, a single life annuity would be the best. However, if you have a family or a wife/husband, you may want to consider multiple life annuity.


Where can one get life time annuity rates?

One can get life time annuity rates from his bank. They must simply speak to their financial adviser who will assist them with getting life time annuity rates.


What is more expensive joint life annuity or joint life survivor annuity?

What is the joint and survivor settlemet option


What Annuity plan pays equal amount until death?

It is called a life annuity.


What is a lifetime annuity?

A lifetime annuity is an annuity that is purchased with a payout period that will, in most cases, give a predictable payment each month for the lifetime of the annuitant (the individual whose life the annuity is on).


What is the meaning of annuity guaranteed for 5 years and for life thereafter?

Currently the following options are available under LIC's immediate annuities:1. Annuity for life: The annuity is paid to the life assured as long as he/she is alive.2. Annuity Guaranteed for certain periods: The annuity is paid to the life assured for periods of 5 or 10 or 15 or 20 years as chosen by him/her, whether or not he/she survivesthat period. After the chosen period, the annuity is paid to the life assured as long as he/she is alive.3. Annuity with return of purchase price on death: The annuity is paid to the life assured as long as he/she is alive. On the death of the life assured, the purchase price of the annuity is paid as death benefit. The purchase price includes the Sum Assured under the Basic Plan, the accrued Guaranteed Additions and any accrued bonuses, excluding the commuted value, if any.