Which of the following statements concerning disability income policies is CORRECT?

1. Noncancelable policies guarantee the insured the right to renew the policy for a stated number of years, or until a specified age for a premium guaranteed upon renewal.
2. A guaranteed renewable policy does not guarantee renewal at a level premium.
3. Noncancelable policies provide the most liberal continuation provision.
4. Noncancelable polices permit the company to adjust premiums for individual insureds.

A)

I, II, and IV

B)

I, II, and III

C)

III and IV

D)

I and II