Which point below is not a requirement for a buy$-$and$-$sell policy taken out by a partnership to be excluded for estate duty purposes? Choose the correct answer.

The policy must be a risk policy.

The policy must be taken out for the benefit of the relatives of the deceased partner.

The policy was taken out to acquire the deceased's interest in the partnership.

Premiums of the policy were paid by the partners in the partnership $($no premiums must have been paid by the life insured$).$

C None of the above