Bill, a 42 year old single father, wants to makes sure his daughters Ashley (6) and Amy (8) are taken care of should he pass away early. Bill is seriously considering using a Universal Life (UL) policy because he is under the impression that UL insurance is the most flexible. However, insurance is new to Bill and he has asked you to explain UL insurance to him. Which of the following correctly describes the policy in this scenario? 

A) Like term insurance and guaranteed whole life insurance, the three factors in the determination of the premium are mortality costs, investment returns, and guarantee .

b) Unlike term insurance and guaranteed whole life insurance, the three factors in the determination of the premium are fixed for the life of the contract. 

c) Like term insurance and guaranteed whole life insurance, the components which determine the premium are bundled together to show the net impact to the cash value of the policy. 

d) Unlike term insurance and guaranteed whole life insurance, the calculation for each component which determines the premium is disclosed to show how each impacts the cash value of the policy.