In Relation to Life Assurance, Look at the Following Two

In Relation to Life Assurance, Look at the Following Two Statements, and Select the True One(s) :
I: Age is Material Information, and may affect the Terms of Underwriting.
II: If Age is Found to be Different, the Only Effect is on the Premium-Rate.

A) Only Statement-I is True.
B) Only Statement-II is True.
C) Both: Statement-I and Statement-II, are True.
D) Both: Statement-I and Statement-II, are False.