Which of the following statements pertaining to term insurance is CORRECT?

A) Nancy and Jennifer are the same age and have term policies of identical face amounts. Nancy's policy is renewable; Jennifer's policy is nonrenewable. Jennifer pays the higher premium.
B) A term policy cannot be both renewable and convertible.
C) Term insurance provides protection for only a temporary period.
D) Jorge decides to exercise an option to renew his term insurance, but first he must pass a physical examination."

Answer: C) Term insurance provides protection for only a temporary period.