Ralph wants to borrow $$50,000$ from a bank. The bank requires collateral and Ralph agrees to assign to the bank his life insurance policy, which has a face amount of $$100,000.$ Ralph's wife Arianna is the revocable beneficiary of the policy. Ralph agrees to a repayment schedule. Two years later he dies owing $$30,000$ to the bank.How much is the bank entitled to$?$SO$,$ because Arianna is a protected class beneficiary.$$30,000,$ the amount of the loan outstanding at the time of death.$$50,000,$ the original amount of the loan.$$100,000,$ because Ralph assigned ownership of the policy to the bank.Choose $1$ option.