Question

In the case of a refund annuity, Select one: O a. if the annuitant dies, the designated beneficiary receives monthly payments until the total price of the annuity is paid back b. a specified monthly income is provided for a stated number of years without consideration of any life contingency O C. the monthly income provided by the policy varies as a function of the insurer's actual investment experience O d. the insurance company agrees to pay a guaranteed rate of interest on the insured's money e. the insurance company guarantees the annuitant a stated amount of monthly income for life

Answer 1

Refund Annuity:

This is an annuity which makes a fixed payment to the annuitant in his life. This annuity guarantees the return of the original amount paid into the annuity.
If the annuitant dies before payment of the original amount then the beneficiary will receive the remaining amount until the orginal amount is paid back.

Answer. a. If annuitant dies....paid back.