What are the two distinct phases of a deferred annuity?

A. Waiting and Starting phases

B. Loading and Unloading phases

C. Accumulation and Payout phases

D. Commutation and Continuation phases

Answer: Option C

Solution(By Examveda Team)

Accumulation and Payout phases are the two distinct phases of a deferred annuity. A deferred payment annuity is an insurance product that provides future payments to the buyer rather than an immediate stream of income.