Which settlement option pays a stated amount to an annuitant but no residual value to a beneficiary?

Question:- Which settlement option pays a stated amount to an annuitant but no residual value to a beneficiary?

Answer:

The settlement choice meaning payment of a stated amount to the annuitant but to the beneficiary without residual value is called the traditional life annuity. If collecting a life annuity, the annuitant can expect consistent and recurring payments disbursed during a lifetime. However, in the event of demise, such beneficiaries do not stand to inherit any remaining annuity benefits


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