Rory has purchased a product from an insurance company that requires the insurance company to pay him $5,000 each year, and he will continue to receive these payments until he dies. This series of payments is called

A) a portfolio.
B) a bond.
C) a dividend.
D) an annuity.

An annuity is a financial product that pays out a fixed stream of payments to an individual, typically used as an income stream for retirees. In this case, the insurance company's agreement to pay Rory $5,000 each year for the rest of his life fits the definition of an annuity.