Larry purchased a deferred annuity and, at age 65, annuitized the product under a life with 15-year certain option. His wife, Linda, is the beneficiary. Which of the following statements is CORRECT?
A) Payments would be made to Larry as long as he lives.
B) Payments would be made to Larry until his death, then to his wife for another 15 years.
C) Payments would be made to Larry until he is 80, then to his wife for the remainder of her life.
D) Payments would be made to Larry until he is 80, then cease.
Answer: A) Payments would be made to Larry as long as he lives.