Bertram, an 80-year-old pensioner, meets with his insurance agent, Jessie. Bertram just sold his cottage for S600,000 that he had purchased many years ago for $100,000 . Bertram wanted Jessie to advise him of the best way to invest the proceeds in a way to protect his capital from market forces. What should Jessie tell him?

1. He can purchase segregated funds, but his capital may not be fully guaranteed upon death. 

2. He can purchase segregated funds, but his capital will not be guaranteed due to his advanced age. 

3. He can purchase segregated funds, but he must complete a health questionnaire to qualify for the guarantee. 

4. He is over the maximum age limit and cannot purchase segregated funds