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1.
What is taxed during the accumulation period of a non-qualified annuity?
Annuity contributions. The income you contribute to a non-qualified annuity is subject to taxation during the accumulation period. A non-qualified annuity is one that is outside of a retirement plan.
2.
Your monthly income from a fixed annuity is based on _______.
Your age and your sex. Your age and sex are two factors that determine the monthly payment you receive from an annuity. "The value of your investments" indicates a variable annuity.
3.
The period during which annuity premiums are paid is called the _______.
Accumulation period. In the accumulation period, the annuity owner (annuity holder) pays premiums to the company.
4.
When you annuitize, you are paying into your annuity account.
False. When you annuitize, you begin receiving income from your annuity.
5.
The period during which you receive payments from an annuity contract is called the _______.
Payout period. In the payout period you surrender the value of the annuity contract in exchange for guaranteed monthly payments of benefits.