Answered: 68. if a policy loan is not repaid A…

68. if a policy loan is not repaid A Nonforfeiture is activated Interest on the loan accrues The incondensable period extended The policy lapses automatically

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

68. if a policy loan is not repaid
A Nonforfeiture is activated
Interest on the loan accrues
The incondensable period extended
The policy lapses automatically

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