All of these statements concerning whole life insurance are false EXCEPT

All of these statements concerning whole life insurance are false EXCEPT 



a) Policyowner can take out a policy loan up to the face amount
b) When a whole life policy is surrendered, income taxes may be owed
c) Coverage is normally temporary
d) The death benefit is not affected by outstanding loans


Answer: b) When a whole life policy is surrendered, income taxes may be owed

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