If an insured borrows a portion of the cash value from her whole life policy, which of the following is true?

I. The insured may borrow up to 100% of the face amount of the policy II. The loan must be paid within five years III. The loan will not charge interest IV. Any outstanding loans must be deducted from the face amount of the policy before death benefits are paid

a.

IV. only

b.

I, II, III and IV

c.

I. and II. only

d.

I., II. and IV only