When Alphonse died his wife Antonia applied for the $200,000 death benefit under his whole life non-participating policy as she was named as beneficiary under the contract. Unknown to Antonia Alphonse had collaterally assigned $45,000 of the death benefit and the $22,000 cash surrender value to the bank as security for a business loan he had taken out the previous year. The loan was still outstanding when Alphonse died and the assignment had been registered with the insurance company. What would the insurance company have paid under the death claim and to whom?