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Which of the following statements about life insurance policy loans is False ? A) Loans are only permitted for specific reasons listed in the policy.
Which of the following statements about life insurance policy loans is False ?
A) Loans are only permitted for specific reasons listed in the policy.
B) Policy loans may be used to cover premiums using the automatic policy loan provision.
C) The policyholder is required to pay interest on a life insurance policy loan.
D) Any loan balance remaining at the time of the insured death is deducted from the life insurance proceeds paid to the beneficiary.
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