Why not B?

问题如下：

Tom mentioned that both he and his wife are concerned that may outliving their assets , and he knows that annuities can help mitigate this risk. He is interested in an annuity that can provide income as long as one of the them is alive. The risk tolerance of the Tom couple is average, and they hope to adjust their retirement spending when necessary.

The most suitable type of life annuity for Tom's risk tolerance and retirement expenditure plan is:

选项：

variable joint life annuity.

fixed joint life annuity.

variable life annuity with period certain.

解释：

A is correct. A variable joint lifetime annuity is the most suitable option. The characteristics of the Tom couple are compatible with variable annuities—— their average risk tolerance and ability to adjust their spending in retirement—— allowing them to choose a variable annuity for which payment is linked to the risk asset portfolio. The joint life feature will provide payments until both of them are no longer living.

B is not correct. Although the joint life feature would provide payment until the Tom and his wife no longer live, a fixed annuity will lock them into a constant income stream that is guaranteed not to change.

C is incorrect. The life annuity with period certain feature provides payment for the life of the annuitant and is guaranteed for a minimum number of years. If Tom purchases a variable life annuity with a 10-year guarantee and he died after 6 years, Tom's wife as the beneficiary will only receive payment for another 4 years. If Tom dies after the guaranteed minimum age, say at 12 years, Tom's wife will not receive any more payments.

A是正确的。可变联合终身年金是最合适的。tom夫妇的特点与可变年金兼容——平均风险承受能力和调整退休支出的能力——使他们能够选择一种可变年金，其支付与风险资产组合挂钩。共同生活功能将提供付款，直到他们两人都不再生活。

B不正确。虽然joint life annuity将提供付款直到tom夫妇都离世，但固定年金将把他们锁定在一个固定的收入流中，使其不会改变。

C不正确。具有一定期限特征的终身年金为年金受益人的在保证最低年限内提供支付。如果tom购买了一份有10年担保的可变终身年金，并且在6年后去世，tom的妻子作为受益人只会再获得4年的付款。如果Tom在保证的最低年龄后去世，比如12年，tom的妻子将不会再收到任何赔偿。