Prudential Financial HireVue Mock Interview

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Question 22 of 30

How would you explain Deferred Annuities in laymen's terms to a potential client?

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Kevin Downey
Kevin Downey

Kevin Downey has an extensive background in business management, recruiting, branding and marketing. He's volunteered his career coaching services at job fairs, lecturing on interview techniques and crafting winning resumes and cover letters.

"Annuities are long-term investments designed to provide you with sustainable retirement income. There are different ways of buying into annuities, depending on your needs. The type depends on whether you need the income immediately or later. An immediate annuity begins paying out within a year. A deferred annuity pays out on a scheduled future date. It's an investment you contribute to until it pays out. There are also variable annuities tied to a range of investments, which hold some risk. And then there are fixed annuities, where your principle is secure and predictable."

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