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What will the end result be if the total of a policy loan and accrued...

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Accounting

What will the end result be if the total of a policy loan and accrued interest exceeds the policys surrender value? (Search Chapter 2)

a. The loan will continue to grow until it reaches the policys face amount.

b. The policy will lapse.

c. The policy will convert to term coverage.

d. The death benefit will be reduced.

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