Q$2$ Corporate$-$owned life insurance is a very popular funding vehicle for nonqualified plans because

I. the cash value buildup is not currently taxed.

II$.$ the insurance policy may be purchased on the executive's life and still be owned by the employer to fund the promised benefit.

III. these policies provide the funds to pay the benefit in the event of the executive's death before retirement.

a$.$ I and II$.$

b$.$ I and III.

c$.$ II and III.

d$.$ I, II$,$ and III.