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)

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

D)

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