A loan against the cash value of your life insurance policy would be characterized by?

An insurance policy holder and an insurer or assurer enter into a contract for life insurance under which the insurer agrees to pay a predetermined beneficiary a certain amount of money in the event that the policyholder dies. Other occurrences, such critical illness or terminal disease, may also result in payment, depending on the terms of the contract.

A contract between an insurance policy holder and an insurance company in which the insurer agrees to pay a quantity of money in exchange for a premium upon the demise of an insured person or after a specific amount of time is known as life insurance.

With a cash value life insurance policy, a portion of each premium you pay is used to cover your life insurance, and the remaining sum is used to accrue cash value. Your policy's cash value component earns tax-deferred interest.

Hence, A loan against the cash value of your life insurance policy would be characterized by no specific repayment date. Option C is correct.

The complete question is,

A loan from the cash value of your life insurance policy would be characterized by

a) increased premiums

b) annual percentage rates higher than other sources

c) no specific repayment date

d) increased death benefits to beneficiaries

e) unchanged death benefits available to beneficiaries

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