Problem: Identify the true statement regarding whole life insurance policies. a) The premiums are relatively low in the early years and increase over time. b) Whole life insurance policies are designed to provide both insurance and savings. c) Whole life policies usually expire no later than age 75 or 80. d) There is a buildup of value in the policy, known as the cash surrender value that includes any dividends left on deposit. Edward's information is as follows: Item Dollar Amount Current year's earned income: $86,800 Previous year's earned income: $85,400 Current year's pension adjustment reversal: $4,240 RRSP carry forward room for the year: $0 Calculate the maximum contribution that Edward can make to his RSP this year $11,132 $15,624 $19,612 $21,372