In a variable annuity, which statement about owner, annuitant, and beneficiary is true?

In a variable annuity, which statement about owner, annuitant, and beneficiary is true?

• A. They must all be the same person.
• B. The owner controls the contract; the annuitant is the life used for payout calculations; the beneficiary receives the proceeds after death; they can be the same or different.
• C. The annuitant controls the contract.
• D. The beneficiary receives the payouts during life.

Answer: (B)