A single-premium immediate annuity typically begins payments when?

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Study for the Louisiana Series 103 – Life, Health, and Accident or Sickness Insurance Exam. Familiarize yourself with key concepts through engaging questions and explanations. Prepare effectively for your exam!

Multiple Choice

A single-premium immediate annuity typically begins payments when?

Explanation:
A single-premium immediate annuity is funded with one lump sum and starts paying out right away, without a separate deferral period. The payments begin in the first payment period after the contract is issued. If the plan pays monthly, that first payment is one month after issue. The other options describe waiting periods or no immediate start to payments, which don’t match the nature of an immediate annuity.

A single-premium immediate annuity is funded with one lump sum and starts paying out right away, without a separate deferral period. The payments begin in the first payment period after the contract is issued. If the plan pays monthly, that first payment is one month after issue. The other options describe waiting periods or no immediate start to payments, which don’t match the nature of an immediate annuity.

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