Anik and Puja live in Iqaluit, Nunavut and they both work for the territorial government. They are purchasing their first home and taking the maximum mortgage available based on their joint income. They are considering opting for the creditor life and disability insurance their lender has offered them. Which of the following statements about creditor disability insurance is correct?

a)The definition of disability qualifying the insured for benefits is invariably "own occupation".

b)The policy premiums are charged separately from the monthly mortgage payment.

c)The policy is controlled by the lender and the lender is the beneficiary, not the insured.

d)The premiums are tax deductible and the benefits are taxable.