all of the following statements concerning annuities are correct except: question 15 options: the pure (straight) life annuity is ideal for the person who needs maximum income spread out over a lifetime and has several living dependents to whom he or she wishes to leave assets. a life annuity with term certain payments ensures that the annuitant either receives a minimum number of payments or will have lifetime income; whichever is greater. in an installment refund annuity, the insurer promises to continue periodic payments after the annuitant has died until the sum of all annuity payments equals the purchase price of the annuity. a joint and survivor annuity is an annuity based on the lives of two or more annuitants, usually spouses.