Which of the Following Statements About the Guaranteed Purchase Option

Multiple Choice

Which of the following statements about the guaranteed purchase option is true?

A) It is usually available with term insurance policies.
B) The premium when an option is exercised is based on the insured's age at the time the original policy was issued.
C) The option permits the insured to purchase specified amounts of life insurance in the future even if the insured has become uninsurable.
D) If a guaranteed purchase option expires without being used,it can be exercised at a later date.