Question: If an annuity has a guaranteed contract value and a payout phase that begins more than one year after the premium is paid, it is

If an annuity has a guaranteed contract value and a payout phase that begins more than one year after the premium is paid, it is a:

A. longevity annuity

B. Variable deferred annuity

C. Fixed deferred annuity

D. Fixed immediate annuity

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