In 2020, Behn Meyer Bhd (BMB), a petrochemical company discovered a few series of serious misconduct by the company decided to terminate his services. However, to protect the company's reputation and to avoid b the manager for a meeting. During the meeting, the BMB offers a voluntary resignation to that manager in re RM1,000,000 to purchase an insurance policy which gives the right to the manager RM5,000 per annum for 10 years from commencing 2020

REQUIRED: Discuss the deductibility of the above expenses in accordance with Income Tax Act 1967 Note: You may include any decided case law in your discussion