Regarding the renewability feature in term life insurance policies, select the two correct statements based on the passage:

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a

The renewability option allows policyowners to renew their policies without evidence of insurability.

b

Premiums decrease with each renewal because the insured's age increases.

c

Companies typically allow unlimited renewals regardless of the insured's age.

d

Renewal premiums are based on the insured's original age at the time the policy was first issued.

e

Renewable term policies can be viewed as increasing$-$premium; level$-$benefit term life insurance.

f

Insurers may limit renewability to mitigate adverse selection caused by healthy insureds renewing policies.