Under Immediate annuity, the premium has to be paid

A. In regular instalments

B. In lumpsum

C. Both A & B

D. None of the above

Answer: Option B

Solution(By Examveda Team)

Under Immediate annuity, the premium has to be paid in lumpsum. An immediate annuity is an insurance product that gives the buyer a guaranteed stream of income in exchange for a lump sum of cash. Immediate annuities have several advantages, such as long-term stability, tax-deferred income, and monthly income payments for the rest of your life.