Which of the following statements about annuity payments received is correct?

a. To qualify as an annuity, the payments cannot extend beyond the life of the annuitant.

b. If an individual uses funds from a savings account to purchase an annuity, the taxable amount of any payment is reduced by the capital element included in the payment.

c. Net income is increased by the amount of any annuity payment received.

d. If the annuity was purchased inside an RRSP, none of the payments will be required to be included in net income.