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Home Q & A Board Other Fields Homework Help Business Insurance
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JamesLu JamesLu
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7 years ago
Which of the following statements is (are) true regarding taxation of life insurance?
I.   Life insurance proceeds paid in a lump-sum to a designated beneficiary are received free of federal income taxes.
II.   The policyowner must pay taxes annually on the amount by which the cash value of his or her life insurance policy has increased.
A) I only
B) II only
C) both I and II
D) neither I nor II
Textbook 
Principles of Risk Management and Insurance

Principles of Risk Management and Insurance


Edition: 12th
Authors:
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ownzore3ownzore3
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7 years ago
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JamesLu Author
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#2
6 years ago
Honestly you're the best
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