Ed is a captive agent contracted with Big Insurer whose contract requires him to sell only Big Insurer products. Ed's client is interested in purchasing an annuity product. Although Ed knows his company's annuity product is inferior to competing annuity products, he complies with his contract's requirements and sells the client Big Insurer's annuity. Which of the following statements is correct?
a. Because Ed's contract clearly stipulates he cannot sell the products of other companies, he acted ethically in selling the Big Insurer annuity.
b. Ed's knowingly selling his client an inferior product when another superior product was available conflicts with the ethical requirement that he serve his client's best interests. Ethically, he should have forgone the sale.
c. Ed was ethically required to sell the competing insurer's annuity product despite his contractual obligations to Big Insurer.
d. Ed was duty-bound to contact his state insurance regulator to obtain a ruling as to whether he could ethically sell the Big Insurer contract to his client.