Final answer:
A variable whole life policy offers a guaranteed death benefit and has a cash value component. The premiums are not fixed and can vary based on the performance of the underlying investments. The cash value component of the policy is affected by market fluctuations.
Step-by-step explanation:
A variable whole life policy is a type of life insurance that offers a guaranteed death benefit. This means that a certain amount of money will be paid out to the beneficiary upon the death of the insured person. The policy also has a cash value component, which means that a portion of the premium paid goes into an investment account that can grow over time. The premiums for a variable whole life policy are not fixed and can vary based on the performance of the underlying investments. Therefore, statement b) is false. Finally, the cash value component of the policy is affected by market fluctuations, as it is invested in various financial instruments like stocks and bonds. Therefore, statement d) is also false.