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Which of the following statements about graded premium whole life policies is correct?
Options
a. Coverage increases proportionally as premium costs increase.
b. A Graded Premium Policy is a variation of a Permanent Life Policy.
c. Premiums, which are initially low, increase every year for a period of 3-5 years and stay level thereafter.
d. Total of premiums paid for a Graded Whole Life policy will be less than for a Straight Life Policy.
Answer: B
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