3Which of the following is not true regarding loans based on the cash values built up in cash-value life insurance policies?

• Should the insured person die before repaying the loan, the life insurance company will forgive the loan.
• The interest rates are low, ranging from 4 to 6 percent.
• Many people fail to pay back such loans because no fixed schedule of repayment is established.
• Insurance companies do not pressure borrowers to repay the debt.