Which of the following is not a required provision in an annuity contract?

Inflation protection is not a required provision in an annuity contract. While it is an important feature that can enhance the value of an annuity, particularly in protecting against the erosion of purchasing power due to inflation, it is not mandated by law or regulation for all annuity contracts.

Required provisions typically include items like an incontestability provision, which protects the policyholder from having their contract voided after it has been in effect for a certain period, a grace period allowing for missed payments without immediate penalty, and a misstatement of age provision that addresses potential inaccuracies in the age of the annuitant, which could affect the payout of benefits. Each of these provisions is designed to protect both the insurer and the policyholder, ensuring clarity and fairness in the terms of the contract.

In contrast, inflation protection, while beneficial, remains an optional feature that may vary by product and provider, allowing for more flexibility and variety in annuity offerings. Thus, recognizing it as not required is crucial for understanding the core components of annuity contracts.