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A 63 -year-old client nearing retirement age has a substanstial whole life policy. No longer having a need for the policy's death beneff, but also realiting that annutining the policy's cash value now could expose and erode that value doe to inflationary pressures, the client is coen to your suggestions. Understanding the benefits and usefuness of IRC Section t035, you recommend she consider A) a variable annuity that has as its investment objective an emphasis on aggressive growth equitios B) a low-to-moderate risk mutual fund from which withdrawals could be made C) a variable annuity with subacoount choices that include investments of low to moderate risk D) certificates of deposit When effecting an annuity contract exchange under IRC Section 1035, it results in A) an automatic additional 10% early distribution penalty B) immediate income taxation on cumulative annuity earnings to-date C) not violating the required minimum distribution requirements D) not violating the early (pre-age 591/2 ) distribution rules Charlie purchased a $300,000 variable universal life policy 25 years ago with annual premiums of $3,600, totaling $90,000 to date. Today the policy's cash value has accumulated to $170,000. The policy is non-participating, with no policy dividends being declared. What is his gain in this polcy? A) $90,000 B) $170,000 C) $80,000 D) $95,000