Which of the following is TRUE regarding the annuity period?
A. It may last for the lifetime of the annuitant.
B. During this period of time the annuity payments grow interest tax deferred.
C. It is also referred to as the accumulation period.
D. It is the period of time during which the annuitant makes premium payments into the annuity.
Answer: A. It may last for the lifetime of the annuitant.
An annuity is basically a plan which a person buy by making a lumpsum payment to a insurance company generally to get regular payment for life.