Which of the following is/are true about payout annuities? 1. Life annuities must have a guaranteed period II. The longer the guarantee period the higher the payment III. More than one annuitant is permitted IV. Term certain annuities permit withdrawals but life annuities do not V. If the annuitant dies before the end of the guarantee period the remaining payments are made to the beneficiary Select one: a. II, IV, and V only b. Ill and V only c. II, III and IV only d. I, III, and IV only