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The difference between an annuity that is Life Only, No Refund and one that is Life Annuity, with Refund is that a. the annuitant and

The difference between an annuity that is Life Only, No Refund and one that is Life Annuity, with Refund is that

a. the annuitant and the contract owner is the same person in one and not the other.

b. one has a death benefit and the other does not

c. the contract owner bears some investment risk in one and not the other

d. one is considered a variable annuity and the other is a fixed annuity

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