Which of the following is not true regarding disclosures on annuities: a. Annuities are a traditional...

Which of the following is not true regarding disclosures on annuities: a. Annuities are a traditional bank deposit product. b. Annuities carry investment risk. c. Annuities are not a deposit product. d. Annuities are not insured by FDIC.

Expert Solution

Let us go through the options one by one:

a) Annuities are a traditional bank deposit product.: Annuties are not tradional bank deposits instruments like FD,CD which atttract tax. they are not even given by banks

b. Annuities carry investment risk. : Annuties carry investment risks,like you dont's get annuity when company defaults, or inflation is high whih doesn't give positive returns aslo(for fixed annuity).

c)Annuities are not a deposit product.: Annuties are non-deposit products, as they are offered ny non depository insitutions unlike banks.

d) Annuities are not insured by FDIC. -It's correct that annutiesa are not insured by FDIC,to make it more clear refer below defination .

Definition: A nondeposit investment product (NDIP) is a financial asset that is not FDIC-insured and may contain investment risk. NDIPs include mutual funds, annuities, securities, and self-directed Individual Retirement Accounts that invest in securities.

jeff jeffy answered 1 year ago

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