An annuity may be selected as a way to receive the cash values from a life insurance policy. C True C False Question 30 Most persons buying a deferred annuity purchase it with a single premium. C True False Question 31 Approximately 97% of term life insurance ends before the payment of the life insurance benefit. C C True False Question 32 It is generally a good idea to shop around for a new life insurance policy every 3-5 years and replace the outdated policies you may already own. True C False Question 33 Revocable beneficiary designations may be changed by a policy owner alone, while irrevocable designations may be changed only with the beneficiary's consent. C True False