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chouri chouri
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7 years ago
Which of the following statements is true regarding an automatic premium loan provision?
A) Its purpose is to prevent a policy from lapsing because of nonpayment of premium.
B) Interest does not have to be paid on an automatic premium loan.
C) If the provision is used, the insured must show evidence of insurability to resume regular premium payments.
D) An automatic premium loan, unlike a regular policy loan, is forgiven if the insured dies before the loan is repaid.
Textbook 
Principles of Risk Management and Insurance

Principles of Risk Management and Insurance


Edition: 12th
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