Failed to grant minimum permission requests. (Exception from HRESULT: 0x80131417)]

I got this error while accessing the web app on IIS 7.
The AppPool was configured to incorrectly. I was trying to access the app using a domain account where as in AppPool settings i didn't specify to load user profiles.

The actual error log was as follows:

[PolicyException: Required permissions cannot be acquired.]
       System.Security.SecurityManager.ResolvePolicy(Evidence evidence, PermissionSet reqdPset, PermissionSet optPset, PermissionSet denyPset, PermissionSet& denied, Boolean checkExecutionPermission) +10238142
       System.Security.SecurityManager.ResolvePolicy(Evidence evidence, PermissionSet reqdPset, PermissionSet optPset, PermissionSet denyPset, PermissionSet& denied, Int32& securitySpecialFlags, Boolean checkExecutionPermission) +97

    [FileLoadException: Could not load file or assembly 'FileHelpers, Version=2.0.0.0, Culture=neutral, PublicKeyToken=3e0c08d59cc3d657' or one of its dependencies. Failed to grant minimum permission requests. (Exception from HRESULT: 0x80131417)]
       System.Reflection.Assembly._nLoad(AssemblyName fileName, String codeBase, Evidence assemblySecurity, Assembly locationHint, StackCrawlMark& stackMark, Boolean throwOnFileNotFound, Boolean forIntrospection) +0
       System.Reflection.Assembly.InternalLoad(AssemblyName assemblyRef, Evidence assemblySecurity, StackCrawlMark& stackMark, Boolean forIntrospection) +416
       System.Reflection.Assembly.InternalLoad(String assemblyString, Evidence assemblySecurity, StackCrawlMark& stackMark, Boolean forIntrospection) +166
       System.Reflection.Assembly.Load(String assemblyString) +35
       System.Web.Configuration.CompilationSection.LoadAssemblyHelper(String assemblyName, Boolean starDirective) +190




Solutions:
1. Access AppPool Advance Settings, 

2. Set LoadUserProfile to TRUE.