If a policyholder has selected the automatic premium loan provision, a loan would automatically be taken against the cash value of the policy to pay the premium in the event the policy was about to lapse for non-payment of premium. This would prevent loss of the insurance protection as long as the policy has enough cash value to pay the premium.
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a loan would automatically be taken against the cash value of the policy to pay the premium in the event the policy was about to lapse for non-payment of premium.
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