All of the following statements are correct regarding Credit Life Insurace EXCEPT:

Insurance

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All of the following statements are correct regarding Credit Life Insurace EXCEPT:

Options

A. Benefits are paid to the borrowers beneficiary

B. The amount of Insurance permissible is limited per borrower

C. Premiums are usually paid by the borrower

D. Benefits are paid to the creditor

ANSWER: A. Benefits are paid to the borrower’s beneficiary

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