The best life insurance policy for the payment of federal estate taxes for a 55 year old couple with illiquid assets is:

Select one:

a. An individual whole life policy on each spouse on a cross ownership basis.

b. a joint first to die life insurance policy owned jointly.

c. a joint last to die life insurance policy owned by the spouse with the larger estate.

d. a joint and last to die life insurance policy owned by an irrevocable life insurance trust