Which of the following statements is correct regarding buy-sell agreements?

a. The agreement must be funded with property or insurance.

b. With an entity-redemption buy-sell agreement, life insurance premiums paid by the entity are deductible by the corporation.

c.If the corporation is designated as the owner and irrevocable beneficiary of any life insurance policy used to fund the buy-sell agreement, the death benefit from the policy is not includible in the decedent shareholder's gross estate.

d. In a cross-purchase buy-sell agreement funded with life insurance, the entity purchases life insurance on the lives of each owner.