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In 2009, Ted purchased an annuity for $60,000. The annuity is to pay him $1,500 per month for the rest of his life. His life expectancy is 120 months. A). Ted is not required to recognize any income until he has collected 40 payments (40 $1,500 = $60,000).
Multi-year guarantee annuity is a term used to describe a fixed annuity that has an interest rate guarantee for the same period of time as its surrender period.or example, an annuity with a guaranteed interest rate of 5% per year for five years, where there are no surrender penalties after five years.