Kelly is 65 years old and would like to retire at the end of 2023. She belongs to a pension fund and knows that she needs to purchase an annuity in order for her to receive an income during retirement. She is married to Jeff and they have two children who are married with kids. She would like to leave the balance of the purchased annuity to her grandchildren is she were to die before the money runs out. She would like to have a higher income in the first 10 years of retirement and thereafter reduce the amount. Indicate the best advice:

• A. Kelly should purchase a single life annuity 

• B. Kelly should purchase a joint life annuity 

• C. Kelly should purchase a guaranteed life annuity

• D. Kelly should purchase a living annuity