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Brad contributed to a variable annuity annually over several years. At age 60, he decided to elect to annuitize the contract value and to begin

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Brad contributed to a variable annuity annually over several years. At age 60, he decided to elect to annuitize the contract value and to begin to receive payments. Which of the following annuity payout options will provide Brad with the highest monthly income? life income with payments guaranteed for 5 years life income with payments guaranteed for 10 years installment refund annuity single life annuity (no refund)

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