Personal finance question?

Question

Regarding annuities, you can either make one lump-sum payment to purchase a single-premium annuity or make ongoing contributions to a flexible-payment annuity.

True

False

2: An immediate annuity is a financial vehicle that can provide guaranteed income for a short period of time only.

True

False

3: Your name, place of residence, and a brief description of your assets are typically part of what is included in a will.

True

False

4: Two of the most important items included in your will are naming a guardian for minor children and naming an executor.

True

False

5: A dying will is a separate document from your will that lets your family members know what type of care you do or don't want to receive should you become terminally ill or permanently unconscious.

True

False

6: It is generally a good idea to keep emergency items in a safe deposit box.

True

False

7: Does FDIC insurance cover the contents of a safety deposit box?

Yes

No

Answer 1

Summer school is in session.  And you asked a lot more than one question.  However, I will answer several:

2). An immediate annuity begins to pay immediately

3).4). true

5). that is a "living will".  I'm pretty sure that there is no such thing as a dying will, although you do have to be dead for the will to be usable.

6). The problem with saying "true" is that the safe deposit box will be inaccessible upon the death of the owner, so items such as a will should not be kept there.  So, false.

7). I don't think so.  The FDIC covers bank accounts.

Answer 2

This sounds like a homework assignment, which maybe explains why no one has answered you.

True

False