Question 31 Which of the following statements about the guaranteed purchase option is true? OA It is usually available with term insurance policies O B The premium when an option is exercised is based on the insured's age at the time the original policy was issued o c i The option permits the insured to purchase specified amounts of life insurance in the future even if the insured has become uninsurable O D If a guaranteed purchase option expires without being used, it can be exercised at a later date