When an annuity is considered to be a "flexible premium" annuity, What does it mean?
1) The premium payment amount is fixed and does not change.
2) The premium payment amount is based on the annuitant's age and gender.
3) The premium payment amount is based on the annuitant's health and lifestyle.
4) The premium payment amount is based on an underlying investment of securities affecting the amount that must be paid each month.