Tom has a $10,000 whole life policy and took out a policy loan of $500 using his cash value. If Tom were to die before paying back the policy loan, how much would Tom’s beneficiary receive from the death benefit of his policy?

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Tom has a $10,000 whole life policy and took out a policy loan of $500 using his cash value. If Tom were to die before paying back the policy loan, how much would Tom’s beneficiary receive from the death benefit of his policy?

A) $9,000.

B) $10,500.

C) $10,000.

D) $9,500.

Answer: D) $9,500.

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