1. Which of the following statements concerming variable life insurance is correct? a. Variable whole life is a type of whole life insurance that has a fixed premium and a fixed death benefit and cash values. b. Variable whole life policies are regulated by the Securities & Exchange Commission (SEC). c.The owner of a variable universal life policy has a fixed and guaranteed rate of returm. d. If the variable universal life policy investment experience is poor, the death benefit amount may be reduced to zero.