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Q36 Single choice

Ken has a variable life policy and recently learned that he can borrow against its cash value to help pay for some of the expenses he's incurring while pursuing a graduate degree.

Which of the following statements about the loan he can get is true?

A
Ken can borrow at most only 50% of the cash value, and only as long as he's had the policy for at least three years.
B
Since Ken is essentially borrowing his own money; the loan is interest-free.
C
Ken never has to repay the loan, but if he chooses not to do so, his wife, Barbie, won't get as much when he dies.
D
Ken has been misinformed. He cannot borrow against the cash value of a variable life policy because the cash values of these policies fluctuate constantly.

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