Under a variable, fixed$-$period annuitization option in an annuity, the insurer

A$)$

guarantees that if the recipient dies before receiving the full amount of original proceeds, the difference will be paid to a contingent beneficiary.

B$)$

pays policy proceeds in a predetermined number of payments with only the amount varying, depending on interest earned.

C$)$

pays a predetermined amount in installments only until the policy proceeds, including principal and interest, are exhausted.

D$)$

guarantees that installment payments will continue as long as the recipient lives, but not beyond that point.