Spencer applies for life insurance. On the application form, one of the questions asks whether the applicant has used narcotics, psychoactive drugs, or marijuana within the last 5 years. Spencer smokes marijuana on social occasions but he doesn't consider himself a regular marijuana smoker. Spencer answers no" to the question on the application. Which of the following statements is CORRECT? 8 Oa) The insurance company cannot void the insurance contract once it has been in place for two years. Ob) The insurance company cannot void the contract, but it can increase Spencer's premiums. Oc) The insurance company cannot void the contract, but it can reduce the policy face value. Od) The insurance company can deny a claim if it discovers that Spencer lied about smoking marijuana on his application.