Janet is the beneficiary of her uncle's $200,000 life insurance policy. When her uncle died, Janet selected a settlement option that pays monthly benefits for as long as she lives
If Janet dies before receiving $200,000, payments will continue to a contingent beneficiary until a total of $200,000 has been paid. What settlement option did Janet select?
A) joint-and-survivor annuity
B) life income with guaranteed total amount
C) life income with guaranteed period
D) fixed amount option
Answer: B
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Indicate whether the statement is true or false
Shafiq, age 16, works part-time at the local supermarket after school and on vacations. He plans to open a Roth IRA to save for his future. Shafiq makes less than $10,000 per year. He can take advantage of the qualified retirement savings contributions credit ("saver's credit").
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Gaston bought a toaster made by Robinson Electric Co One day while using
the toaster, it exploded causing him to sustain serious injury. The accident occurred either as a result of faulty parts supplied by the parts manufacturer, negligent assembly by the toaster manufacturer or negligent handling by the local retailer. Gaston sued Robinson Electric, the parts manufacturer and the local retailer for his injuries. Which of the following statements is TRUE? A) There will be a presumption that the manufacturer is responsible for the injuries caused. B) Gaston has to prove specifically which of the three companies was responsible for the defect causing his injuries. C) If each of the three defendant are unable to prove which one of them was responsible for the accident, none of them can be held liable. D) If each of the three defendants are unable to prove which one of them was responsible for the accident, they may all be held equally liable. E) Gaston can sue only the manufacturer of the toaster.