Which of the following statements is (are) true concerning the automat

Which of the following statements is (are) true concerning the automatic premium loan provision?

I. Unlike other policy loans, interest is not charged on automatic premium loans.
II. The basic purpose of an automatic premium loan is to prevent a life insurance policy from lapsing.
A) I only
B) II only
C) both I and II
D) neither I nor II

ANSWER

Answer: B