Question
a.
The policy owner is legally obligated to repay the loan in a policy loan.
b.
The insurer requires a credit check on the insured for a policy loan.
c.
The policy owner is not legally obligated to repay the loan in a policy loan, and no credit check is needed.
d.
Policy loans have lower interest rates compared to commercial loans.
Posted under IC38 Life Insurance Agent Exam
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Q. How does a policy loan in life insurance differ from an ordinary commercial loan?
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