The Prince Bank recently granted Janet King a $$50,000$ loan. Ms$.$ King also obtained $$50,000$ of group creditor life insurance through Prince

Bank. Ms$.$ King died while still owing Prince Bank $$10,000$ on the loan. With regard to the group creditor life insurance policy in this situation,

it is correct to say that the

A$.$ Beneficiary of the policy was Prince Bank

B$.$ Beneficiary of the policy was Ms$.$ King's estate

C$.$ Amount of the policy proceeds payable was $$40,000$

D$.$ Amount of the policy proceeds payable was $$50,000$