im and Judy are in their early sixties. They want to secure a guaranteed income stream that will last as long as either one is alive. Their representative explains that their need can be met if they choose:

I. An immediate annuity with a 50 year period certain, since it will last until they are just over 110 years old

II. A joint-life fixed immediate annuity with a period certain

III. A joint-life fixed immediate annuity

IV. A single life annuity with a 20 year period certain

A. I only

B. IV only

C. II and III

D. III and IV