Which of the following statements about the change of plan provision in a life insurance contract is (are) true?
I. A change to a lower premium policy results in a refund of the difference in the cash values of the two policies.
II. A change to a higher premium policy requires evidence of insurability.
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: A
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Fill in the blank(s) with the appropriate word(s).
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Indicate whether the statement is true or false
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Indicate whether the statement is true or false
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