Cassie,age 62,paid a life insurer $100,000 in exchange for a life annuity.If Cassie dies before receiving 120 monthly payments from the insurer,the remaining payments will be made to a beneficiary.If Cassie dies after receiving 120 payments,no additional payments are made by the insurer.The annuity payout option Cassie selected is
A) life annuity,no refund.
B) life annuity with period certain.
C) installment refund annuity.
D) cash refund annuity.
Correct Answer:
Verified
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