Which of the below statement is incorrect with regards to a policy against which a loan has been taken from the insurance company?

• A. he policy will have to be assigned in favour of the insurance company
• B. he nomination of such policy will get cancelled due to assignment of the policy in favour of the insurance company
• C. he nominee’s right will be affected to the extent of the insurer’s interest in the policy
• D. he policy loan is usually limited to a percentage of the policy’s surrender value