If an annuitant has a refund annuity and dies after the annuity income begins, her beneficiary will receive
A) a predetermined lump-sum cash payment
B) a lump-sum cash payment equal to the starting annuity fund
C) a lump-sum cash payment equal to the starting annuity fund, less the amount of income already paid to the deceased
D) nothing
Ans: C) a lump-sum cash payment equal to the starting annuity fund, less the amount of income already paid to the deceased
Business
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