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A) Under the reduced paid-up option,the paid-up policy is term insurance.
B) Under the extended term option,the amount of term insurance is less than the face value of the surrendered cash value policy.
C) Under the reduced paid-up option,no additional premiums must be paid.
D) Unless the policyowner has selected another nonforfeiture option,the cash value option goes into effect automatically.
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A) I only
B) II only
C) both I and II
D) neither I nor II
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A) cash value.
B) reduction of premiums.
C) reduced paid-up insurance.
D) extended term insurance.
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