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If an annuity plan is designed so that the monthly payment is adjusted by the actual investment experience of the insurer, it is a(n)----variable annuity

What is an annuity?

An annuity is a contract between an individual and an insurance company. The annuitant agrees to pay the insurance company a single payment or a series of payments, and the insurance company agrees to pay the annuitant an income, starting immediately or at a later date, for a specified time period.

What is  variable annuity?

A variable annuity is a contract between you and an insurance company, under which the insurer agrees to make periodic pay- ments to you, beginning either immediately or at some future date.

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