Which of the following statements does NOT correctly state a characteristic of a commercial annuity?

A) With an annuity, there is a maximum annual contribution per year, which is adjusted yearly for inflation.

B) Annuity contracts may vary regarding the payment time period and the frequency of the payments.

C) An annuity is a contract in which investments are made in exchange for a promise of regular frequent payments for the rest of a taxpayers life or a fixed

D) An annuity payment is generally part return of capital and part interest payment.