Karen meets with you to discuss her insurance needs. Karen likes to take a hands-on approach to her investments, enjoys participating in the investment decisions within her accounts, and has a very high risk tolerance. As a successful business executive, her income is very high. As an investor, Karen always maximizes her RRSP and TFSA contributions, and is keen to explore new tax planning strategies. Throughout your discussion with Karen, you determine that she needs a permanent insurance policy with the potential to name both an irrevocable and a contingent beneficiary. Based on Karen's situation, which of the following types of policies would be most appropriately suited to her needs? a) Participating whole life b) Term-to-100 c) Universal life d) Non-participating whole life