The death benefit will be decreased by 2k+ interest.
In a contract between an insurance policy holder and an insurer or assurer, the insurer or assurer agrees to pay a specific beneficiary a certain amount of money in the event that the insured person passes away. Depending on the contract, additional occurrences such a critical sickness or terminal disease may potentially result in payment.
A policy loan is given out by an insurance provider and is secured by the cash value of the borrower's life insurance policy. A "life insurance loan" is another name for it. They used to be renowned for having cheap interest rates, but that isn't necessarily the case now.
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