Question 75
InsuranceWhich of the following policies could be taken for a guaranteed life income?
- A.Endowment assurance
- B.Household policy
- C.Annuity
- D.Personal accident insurance
- E.Consequential loss insurance
Show the answer and explanation
Answer: C (Annuity)
Explanation
An annuity pays a fixed income every year for life in return for a lump sum.