The correct answer is A. Ins. Co.
With regard to Unit Linked policy, the insurance company bears the expense and mortality risk. This means that the insurance company is responsible for paying out any claims that are made on the policy, as well as for the costs of administering the policy. The policyholder, on the other hand, is responsible for investing the premiums that they pay into the policy. The value of the policy will fluctuate based on the performance of the underlying investments.
Option B is incorrect because the policyholder does not bear the expense and mortality risk. The insurance company is responsible for these risks.
Option C is incorrect because the agent does not bear the expense and mortality risk. The insurance company is responsible for these risks.
Option D is incorrect because the IRDA is not responsible for bearing the expense and mortality risk. The insurance company is responsible for these risks.