Group Life & AnnuitiesQuestion 107 of 315
In an annuity contract, whose life is used to calculate the periodic payouts during the annuitization phase?
a.The annuitant's
b.The beneficiary's
c.The owner's
d.The issuing insurer's
Explanation
The annuitant is the natural person whose life is the measuring life for the payout calculation. Owner and annuitant are often the same person, but they need not be. The beneficiary receives any remaining value only if the owner dies before annuitization.
Law Reference: Cal. Ins. Code §10127.10Practice all 315 questions free — no signup required.
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Sen Lin, PrepPass Founder · Verified against California Life & Health Insurance License Exam · How we review
Reviewed by John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — verify)