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Both annuities and life insurance should be considered in your long-term financial plan. While both include death benefits, you buy life insurance in the event you die too soon and an annuity in case you live too long. In other words, life insurance provides economic protection to your loved ones if you die before your financial obligations to them are met, while annuities guard against outliving your assets.

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Life insurance will pay the benefits when the individual dies while for the life annuities, the benefits will be paid as long as the individuals survive.

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A life annuity is a series of payments made continuously while individuals is service, such as for months, quarters or years.

For life insurance, the benefits will be paid when individuals die. While for life annuities will be paid when individuals survive.

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The different between life insurance and life annuity is when a person dies, life insurance protects their family or loved ones financially. A life annuity is a series of payments made at regular intervals while the person is still alive.

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I understand that life insurance benefit will be paid when individual dies. And life annuities benefit will be paid when individual survive.

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An annuity is a type of insurance contract that promises a certain amount of money every month for the rest of our lives. In general, life insurance protects our loved ones when we die, whereas annuities provide us with a guaranteed lifetime income. Annuities safeguard people as they age by providing a steady stream of income that they can rely on for the rest of their lives.

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Life insurance
benefits will be paid when an individual dies.

Life annuities
benefits will be paid as long as the individual survive.

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Kanchana Mahendran 272897

* For the life insurance, the benefits will be paid when an individual dies. However, for the life annuity the benefit will be paid as long as the individual survive.

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The difference between life insurance and life annuity is the benefit of life insurance will be paid after individual dies while the benefit of life annuity will be paid during the period of individual survive

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The difference between life insurance and life annuity is:
life insurance - the benefits will be paid when the individual dies
life annuity - the benefits will be paid as long the individual survive

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The benefit will be paid when an individual dies for life insurance. The benefit will be paid as long as an individual survive for life annuity.

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Based on my understanding, life insurance is a benefit that will be paid when an individual dies. Life annuity is a benefit where payments are made if an individual is alive.

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WAN AFIQAH RUZANA BINTI WAN SUKRI 273088

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WAN AFIQAH RUZANA BINTI WAN SUKRI 273088

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Life insurance provides economic protection to family or loved ones when an individual dies.

Life annuity is a series of payments at fixed intervals, paid while an individual is alive.

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Life insurance is some sort of financial protection to sustain standard of living for your love ones especially your spouse,childrens and parents after your death While Life Annuities is insurance that you applied to guarantee that you receive certain amount of money throughout your whole life to maintain your ownselves standard of living.

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Life insurance is a protection against loss that would result from the premature death of an insured while life annuity is a series of payments made continuously or at equal intervals while a given life survive.

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Life annuity is a series of payments made continuously or at equal intervals while a given life survives. Life insurance is a protection against financial loss that would result from the premature death of an insured. This also means that the difference of life annuity and life insurance is life annuity occur when individual survive and life insurance occur when individual dead.

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Based on the video, for life insurance the benefit will be paid when an individual dies. For life annuity the benefit will be paid as long as the individual survive.

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Based from the video, I can understand that life insurance benefits will be paid when an individual dies. Whereas, the life annuity benefits will be paid as long as the individual survives.

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Life insurance provides valuable financial protection for those that mean the most to you.
Meanwhile, an annuity is an insurance contract you purchase that guarantees you'll receive a specified amount of money every month for the rest of your life.

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Life insurance is a death benefit if you die sum of money will be paid out to your spouse or children.

Life annuity is a series of payments made continuously or at equal intervals while a given life survives and is commonly utilised to offer retirement income.

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Reflection 24 November 2021:

What’s the difference between life insurance and life annuity?

From my understandings, life insurance will give financial protection in which insured has to pay a monthly premium for life insurance. Besides, the amount they pay varies on a number of factors, including the type of life insurance purchased. While life annuity is that it provides the opposite type of protection as life insurance.An annuity is an insurance contract we purchase that guarantees to receive a specified amount of money every month for the rest of life. Annuities were created to help protect people as they age by generating a constant source of income that they can count on for a lifetime. In general, life insurance provides protection for loved ones when we die while annuities provide a guaranteed lifetime income for ourself, which means we does not outlive assets or money.

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life insurance：benefit will be paid when individual dies

life annuities： benefit will be paid when individual survive

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Both annuities and life insurance should be considered in your long-term financial plan. While both include death benefits, you buy life insurance in the event you die too soon and an annuity in case you live too long. In other words, life insurance provides economic protection to your loved ones if you die before your financial obligations to them are met, while annuities guard against outliving your assets.

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Both annuities and life insurance should be considered in your long-term financial plan. While both include death benefits, you buy life insurance in the event you die too soon and an annuity in case you live too long. In other words, life insurance provides economic protection to your loved ones if you die before your financial obligations to them are met, while annuities guard against outliving your assets.

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SAFALAS TAUFIK
258173

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I don't quite understand when looking at the explanation but after looking at the example 1 I already understand it
273451 Mohamad Shariz Iman