Question
Svana would like to purchase an individual insurance policy. After a discussion and thorough needs analysis, you determine that both a non-cancellable policy and a
Svana would like to purchase an individual insurance policy. After a discussion and thorough needs analysis, you determine that both a non-cancellable policy and a guaranteed renewable policy would meet Svana's needs. Eager to learn more, Svana asks you to explain the main differences between a non-cancellable policy and a guaranteed renewable policy. Which of the following statements is a CORRECT explanation that you can provide to Svana?
a)Guaranteed renewable policies typically provide coverage to age 60, whereas non-cancellable policies typically provide coverage to age 65.
b)Non-cancellable policy premiums can never be increased, whereas guaranteed renewable policy premiums can be increased.
c)For non-cancellable policies, any changes to the policy must be communicated to you in writing a minimum of 30 days in advance.
d)For a guaranteed renewable policy, only the policyholder has the right to modify any of the terms and conditions of the policy.
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