Under one annuity payout option, the insurer guarantees annuity payments for a specified period of time, after which the payments end. If the annuitant dies during the payout period, the insurer pays the remaining annuity payments to a beneficiary until the end of the specified period. This annuity payout option is known as a _______.
a) fixed annuity
b) variable annuity
c) term certain annuity
d) joint and survivor annuity