Difference between deferred fixed annuity and advanced life deferred annuity?

CFA Level III
#1

I’m a bit confused by this. The text says the advanced life deferred annuity is an immediate annuity that has deferred cash flow… which sounds just like a regular old deferred fixed annuity…

#2

I agree . . . emphasis on _ old _.

#3

Advanced Life is - payments start when you are 85+

#4

And that’s . . . wait for it . . . _ old _.

:wink: