Sandeep Parikh purchased a variable life $($VL$)$ insurance policy from the Homerun Insurance Company. Assuming Mr$.$ Parikh's policy is a typical VL policy, it is correct to say that

the subaccount investments of Mr$.$ Parikh's VL policy are part of Homerun's separate account rather than its general account

this policy provides a death benefit that remains constant throughout the life of the policy

this policy offers Mr$.$ Parikh a guaranteed minimum cash value

Homerun alone assumes the investment risk for this policy