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Some useful information about insurances, policies and programs:

In the US, an annuity generally refers to a deferred investment contract that, upon annuitization, will make regular payments (e.g., on a monthly or annual basis) to a person (called the annuitant ) for a period certain, over one or more specified individuals' lifetimes, or over a combination of life and a period certain.

In calculating premiums for any group, the actuary may choose from three possible approaches in determining what expected mortality to use. premiums resulting from each of these approaches are said to fall into one of three rating classes:



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