Jones is the Chief Executive Officer (CEO) ofa manufacturing firm and currently holds a $7 million dollar whole life policy with LifeCo insurance Jones is applying for another $7 million dollar whole life policy with LifeCo, who has a $10 million dollar retention limit Jones is in good health and LifeCo would like to place the policy Which of the following statements concerning the second Jones policy for $7 million dollars is CORRECT?

a). lifeco would be prohibited from underwriting above the retention limit under insurance law.
b). lifeco must undertake special underwriting procedures in order to exceed the retention limit.
c). lifeco must issue a term policy instead of a whole life policy in order to exceed the retention limit.
d). lifeco could utilize a reinsurance company to underwrite the amount above the retention limit.