Mario and Ivan are brothers who buy 2 townhouses adjacent to each other for the same purchase price from the developer. Both of them obtain their mortgages for the same amount from the same lender, Realty Credit Union. Both Mario and Ivan will live in their townhouses as their principal residence. Mario decides to purchase mortgage insurance and Ivan decides to purchase an individual disability policy. Which of the following statements about Mario and Ivan’s policies is CORRECT?

a) Both Mario and Ivan’s policy premiums will be treated as a non-deductible expense.

b) Both Mario and Ivan will designate themselves as beneficiaries on their respective policies.

c) Both Mario and Ivan will have the right to choose their occupation definitions.

d) Both Mario and Ivan can shop around to get the lowest premiums on their respective policies.