Bob has $$40,000$ to deposit and has a choice between his bank's $5-$year GIC and his insurance company's deferred annuity for the same time period. He chooses the insurance company deferred annuity because:

Select one:

a$.$ GICs are taxed annually whereas deferred annuities are not

b$.$ An annuity can be creditor protected and bypass probate

c$.$ It provides greater consumer security if insurance company becomes insolvent

d$.$ As an insurance product it is not taxed until maturity