Edward owns a $200,000 life insurance policy on which his estate is named as the beneficiary. He recently signed a collateral assignment to secure a $50,000 business loan. Edward died shortly thereafter. Which of the following is true regarding the payment of the death benefit? Edward owns a $200,000 life insurance policy on which his estate is named as the beneficiary. He recently signed a collateral assignment to secure a $50,000 business loan. Edward died shortly thereafter. Which of the following is true regarding the payment of the death benefit