Question #$31$ of $50$

In which of these would the previous tax benefits enjoyed by a contract holder be lost?

A$)$ when the owner of an annuity transfers $80\%$ of the funds in the original annuity to a new annuity after age $\frac{701}{2}$

B$)$ when the owner of an annuity transfers more than $80\%$ of the funds in the annuity to a life contract prior to age $\frac{701}{2}$

C$)$ when the owner of a life contract transfers the cash value in the contract to an annuity contract

D$)$ when the owner of a life contract fails to transfer a certain portion of the cash value of the original contract to a new life contract prior to age $65$