The primary difference between traditional insurance contracts and variable contracts is that

A$)$ agents do not need to be licensed to sell variable contracts

B$)$ under traditional contracts, the company assumes the investment risk, while under variable contracts, the contract owner assumes

that risk

C$)$ traditional contracts are regulated by the federal and state governments, while variable contracts are not subject to state regulation

D$)$ traditional contracts were designed to last for the lifetime of the insured, while variable contracts are designed for a shorter term