Connor had been the owner and beneficiary of a $1 million whole-life insurance policy on his sisters life. Connor gifted the policy away four years ago to his nephew but kept the right to borrow its cash value. If the policy was valued at $200,000 when Connor died, what amount attributed to the policy was included in his gross estate?

Select one:

a. Nothing. The gift of the policy to his nephew was not subject to the 3 year rule therefore the policy was not included in Connors estate.b. The $200,000 date of death value of the policy was included in Connors gross estate because he had been the owner but not the insured.c. The $1 million death benefit was included in Connors estate because he retained an incident of ownership in the policy at his death.d. The cash value of the policy was included in Connors gross estate.