Chong is starting a winery business in his home town of Kelowna, British Columbia. Chong needs money to get started. He has a permanent policy on his own life with a cash surrender value (CSV) of $1 million and is considering using the CSV to secure a loan, as requested by his lender. Chong only needs to assign a portion of the policy and he is considering a partial collateral assignment of $500,000. Which of the statements below about Chong\'s partial collateral assignment is correct? a) To secure their interest during the term of the loan, the lender becomes owner of the policy b) Chong retains ownership of the policy and can make policy withdrawals as desired. c) If the loan is still outstanding when Chong dies, the lender has first rights on the full death benefit. d) If Chong defaults on the loan while he is alive, the lender can force a surrender of the policy to recover the unpaid loan balance