17 Sachin purchased a joint and last survivor tife annuity with $120,000 with himself and his wife, Jia, as coannuitants. The contract was planned in such a way that it pays the surviving spouse 75% of the full benefit. As his annuity payment, Sachin currently receives $520 per month. What outcome can be expected if Sachin dies? enlPOVRzeXJYYUd3RWFBQ0EvdGXDQTO9 0 a. The contract's payments and terms will be modified based gn lia's situation and preferences. b. The annuity contract will end and lia will receive a death benefit of $120,000. c A monthly payment of $390 will be issued to Jia untit her death, d. A monthly payment of $430 will be issued to tia until she reaches age 100. enlPovRzeXYYYUd3RWFBOOEvdGxOQTO9