K has a $10,000 traditional Whole Life policy with an outstanding loan of $1,000 and a 5% interest charge. If the loan interest is not paid at year end, what is the result?

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Prepare for the Louisiana Series 101 Life Insurance Exam with multiple choice questions and detailed explanations. Enhance your knowledge and succeed in your licensing exam!

Multiple Choice

K has a $10,000 traditional Whole Life policy with an outstanding loan of $1,000 and a 5% interest charge. If the loan interest is not paid at year end, what is the result?

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