Question
a.
The insurer cancels the policy
b.
The insurer pays the loan amount to the beneficiary
c.
The insurer subtracts the loan amount from the death benefit and pays the remainder to the beneficiary
d.
The insurer increases the premium amount to cover the loan
Posted under IC 92 Actuarial Aspects of Product Development
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Q. What happens if there are any unpaid loans upon the insured's death in a Whole life insurance contract?
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