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Which of the following statements is true about the annual renewable term policy? It is...

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Which of the following statements is true about the annual renewable term policy? It is a life insurance policy where the term payments increase in an annual renewable term. It is a life insurance policy where the insurance company guarantees annual renewal at a rate reflecting the policyholder's age and regardless of the policyholder's health. The decision whether a company will or will not renew the policy depends on the policyholder's health. The decision whether the company will or will not renew the policy depends on the policyholder's age

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