An elderly widow age 81 is seeking to supplement her retirement income with an investment that will provide income that will grow with inflation.
which statement about variable annuities could be made to this client?

a. a variable annuity is guaranteed to give a rate of return that matches the inflation rate
b. a variable annuity is backed by the investment assets of the insurance company which are always growing
c. a variable annuity will give a rate of return that closely matches the performance of the mutual fund that you select
d. a variable annuity will give a rate of return that is adjusted each year by the growth in the cpi