Risk Management And Insurance

  1. Although both immediate and variable annuities can provide lifetime income to annuitants, they differ in important ways. Compare and contrast (1) an immediate annuity with (2) a variable annuity with respect to each of the following:
    1. Determining how the premiums are invested
    2. Stability of income payments after retirement
    3. Death benefits if the annuitant dies before
  2. A fixed indexed annuity and a variable annuity are both similar and different in many respects.
    1. Explain the major similarities between an fixed-
      indexed annuity and a variable annuity.
    2. Identify the major differences between a fixed
      indexed annuity and a variable annuity.
  3. Mario, age 65, purchased an immediate annuity for $120,000 that pays a lifetime monthly income of $1,000. The annuity has no refund feature. Based on the IRS actuarial table, Mario has a life expectancy of 20 years. If Mario receives 12 monthly payments of $1,000 the first year, how much taxable income must he report on his tax return?
  4. Travis, age 25, graduated from college and obtained a position as a tax accountant. He is ineligible to participate in his employer’s retirement plan for one year.
    a. Assume that Travis has a starting salary of$60,000 for 2018 and does not participate in the employer’s retirement plan. Is Travis eligible to establish a traditional tax-deductible IRA? Explain your answer.
    b. Assume the same facts in (a). Is Travis eligible to establish a Roth IRA? Explain your answer.

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