Final answer:
The acceptable annuity choice for someone seeking to start retirement income at age 60 would be a Deferred Income Annuity, as other immediate annuity options would begin payments right away, which is not aligned with the purchaser's needs.
Step-by-step explanation:
The student has inquired about an annuity purchase for retirement income starting at age 60, and the question is figuring out which annuity choice is not acceptable in this scenario.
A Single Premium Immediate Annuity, Fixed Immediate Annuity, and Variable Immediate Annuity, are designed to begin payments immediately after the premium is paid, which would not be suitable for someone looking to start receiving income at a later date, like at age 60.
The correct choice would be a Deferred Income Annuity (D), which is specifically designed to start paying out at a future date, like when the purchaser turns a certain age, in this case, 60.