Homework Answers
C: Both I and II
I is true. Under the yearly renewable life insurance plan, the renewal takes place without evidence of insurability. II is also true since the premiums increase at every renewal. The policyholder is aware of the rates beforehand.
ANSWER :
Option : C. Both I and II
Option I is true. Insurability is not required on each renewal.
Option II is true. Premium increases at each renewal and rates of increase are known to the insured.
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