Which of the following statements characterizes a cancelable policy?

A) The insurer may not cancel the policy because of the insured's age.
B) The insurer may cancel the policy only at the end of the term.
C) The insurer may not cancel the policy because of the insured's retirement.
D) The insurer may cancel the policy at any time.

Ans: D) The insurer may cancel the policy at any time.