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Ashok is 62 years old and has never married. He has no dependants or extended family. He has recently retired from a 25-year career as

Ashok is 62 years old and has never married. He has no dependants or extended family. He has recently retired from a 25-year career as a nuclear scientist with the federal government. He wants to enjoy his life in retirement and do a lot of travelling. He has $200,000 available for an annuity.

Which type of annuity is most suitable in Ashok's situation?

A.Deferred annuity.

B.Installment refund annuity.

C.Straight life annuity.

D.Life annuity with guaranteed payout period.

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