Choose the False Statement

Choose the false statement.

A) The insured need never repay a policy loan, nor is he required to pay interest on the loan.
B) The insured usually has the right to borrow 80% of the face value of an ordinary life insurance policy.
C) Unpaid policy loans are deducted from the beneficiary's proceeds if the insured dies.
D) Life insurance companies cannot refuse to make policyholder loans on policies that have loan values.