Your client Carmella, meets with you to discuss her investments. Carmella has accumulated a portfolio of segregated funds, but she is now leaving the workforce and would like to discuss converting her segregated funds into an income stream for herself in retirement in particular, she has heard that annuities can be used for this purpose. When Carmella asks you about how the payments are determined, which of the following is the CORRECT response that you should provide to Carmella? A life annuity without a guarantee would pay a higher rate than a similar one with a guarantee. In general, the older the annuitant, the lower the annuity payments. All other factors being equal, females generally receive higher payments than males. A variable income annuity would be scheduled to increase payments over time to offset inflation