Select the correct statement.

Group of answer choices

Fixed annuities offer a fixed rate of interest - the interest is guaranteed by the U.S. government.

Variable annuities pay a fixed interest rate over the life of the annuity.

An annuity contract is a written contract between an individual and an insurance company. In exchange for a premium, the company will pay you an annuity which is a series of payments made at regular intervals.

Relative to other retirement vehicles such as employer-sponsored retirement plans and individual retirement accounts, annuities will generally have lower costs