Question 3 (1 point) Archie Bunker has a life insurance policy with CSV. He is in financial difficulty and wishes to take a collateral loan with a third party lender with the policy as security. Which of the following statements best describes the loan? The maximum size of the loan will be solely at the discretion of the lender The loan is unsecured and leaves the insurer with no recourse upon default If the loan is large enough, Archie could trigger a taxable policy gain The size of the loan is limited by provincial legislation