One of the ways that personally owned DI policies can be differentiated from each other is by the level of guarantees afforded the policyholder in the contract. These can range from an absolute guarantee that the policy can never be altered or cancelled, or the premium increased during the lifetime of the policy, to contracts that can be cancelled at any time by the insurer. One of the most common types of contracts are non-cancellable policies. From the list below select the features that do not apply to non-cancellable policies. 1. The rights afforded the policyholder are virtually incontestable for the life of the contract 2. The policy usually extends to age 70 or 75. 3. The policy cannot be cancelled unilaterally by the insurance company. 4. Policy benefits cannot be reduced or modified. 5. The insurer is compelled to renew the policy annually to the life insured's age 70. 6. Once the policyholder turns 70, he typically has the option to convert the policy, with medical evidence, to a "guaranteed renewable" contract with a shortened benefit period. Select one: a. 2,5 & 6 b. 2,3 & 4 C. 1,2 & 6 d. 1,3 & 5 K

One of the ways that personally owned DI policies can be differentiated from each other is by the level of guarantees afforded the policyholder in the contract. These can range from an absolute guarantee that the policy can never be altered or cancelled, or the premium increased during the lifetime of the policy, to contracts that can be cancelled at any time by the insurer. One of the most common types of contracts are non-cancellable policies. From the list below select the features that do not apply to non-cancellable policies. 1. The rights afforded the policyholder are virtually incontestable for the life of the contract 2. The policy usually extends to age 70 or 75 . 3. The policy cannot be cancelled unilaterally by the insurance company. 4. Policy benefits cannot be reduced or modified. 5. The insurer is compelled to renew the policy annually to the life insured's age 70 . 6. Once the policyholder turns 70 , he typically has the option to convert the policy, with medical evidence. to a "guaranteed renewable" contract with a shortened benefit period. Select one: a. 2. 586 b. 2. 38.4 c. 1.,2\&6 d. 1,38.5