Valerie's employer offers a Defined Contribution Pension Plan (DCPP) and she has the option to select segregated funds for her DCPP. While she likes many of the features of segregated funds, she is aware that no maturity or death benefit guarantee is offered by these investments. What does the lack of these guarantees mean to Valerie?

a)		it disallows creditor protection
b)		the management expense ratio (MER) will be higher
c)		the sales charge will be higher
d)		it increases the risk of investment loss