Which product, offered by insurers, allows an individual's savings to be distributed to him periodically over his entire life, regardless of how long he lives?

Correct answer: (D)
Annuities

Annuitization affords an individual the option to receive a sum of money spread over his life. The insurer bears the risk of the individual living beyond his life expectancy. The risk to the individual in that arrangement is the loss of purchasing power over a long period in an inflationary environment.