All of the following are TRUE of Policy Loan Rate provisions, except:

Insurance

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All of the following are TRUE of Policy Loan Rate provisions, except:

A

Policies with fixed interest loan rates have a maximum interest rate of 10%

B

Policies with adjustable loan interest rates have a maximum interest rate based upon Moody’s corporate bond yield average

C

The policy loan amount cannot exceed the available cash value

D

Interest, if not paid when due, is added to the total debt

Answer: A

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