Laura is discussing the advantages and disadvantages of annuities with her clients who are planning to retire in a few months. Which of the following statements is not true?

Select one: $$

a$.$ An insured life annuity is a strategy that combines a life insurance policy and a life annuity

b$.$

The individual receiving the payments is the annuitant

c$.$

Annuities provide the same creditor protection features as life insurance policies

d$.$

Payments from a joint life annuity cease on the death of either annuitant