General government regulation consists of laws that regulate ________

Which of the following is true?

A) The life insurance grace period gives the insured two months during which to correct any misinformation supplied in the application for coverage. B) If the insured misstates his/her age on a life insurance application, the insurer has grounds for voiding the contract. C) The purpose of the beneficiary clause in life insurance is to enable the policy owner to designate to whom the proceeds shall be paid when the insured dies. D) The life insurance assignment clause requires that the policy owner get the insurer's consent before assigning policy ownership to someone else.

A legally enforceable agreement between two or more parties in terms of the performance of a specific action is called a consideration

Indicate whether the statement is true or false