Which arrangement gives a lender a claim on a policy's benefits to secure repayment but does not give control of the policy to the lender?

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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

Which arrangement gives a lender a claim on a policy's benefits to secure repayment but does not give control of the policy to the lender?

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