Alexandria is the owner and annuitant under an owner-driven annuity; her 62-year-old mother is the beneficiary. The contract provides for a guaranteed death benefit equal to the contract's cash value. Alexandria dies of a sudden illness before the annuity's start date. What is the maximum period of time over which this beneficiary could stretch the payout of the death benefit?

• a. five years
• b. over her lifetime
• c. over Alexandria's (statistical) remaining life expectancy
• d. one year