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)

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

C)

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

D)

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