Today, Lauren and her husband Mike (both age 65) purchased a joint life annuity with a one-time premium payment of $100,000. The payments to the couple from the annuity begin in one month and are paid monthly in an amount of $1,000. Which of the following statements about this annuity is (are) true? (Check all that apply.) The monthly payments will end upon the death of either Lauren or Mike. If Mike dies, the monthly payments will continue to Lauren but will be reduced to $500. If Lauren dies after the annuity has made 12 months of payments, Mike will receive a cash refund of $88,000. The monthly payments will continue as long as either Lauren or Mike is alive. This annuity is an immediate annuity