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Which of the following statements about yearly renewable term insurance is (are) true? I. It does requires evidence of insurability for renewal. II. The rate
Which of the following statements about yearly renewable term insurance is (are) true?
I. It does requires evidence of insurability for renewal.
II. The rate paid by the insured will increase on each renewal, but the rate schedule is known.
A) I only
B) II only
C) both I and II
D) neither I nor II
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