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In Key Person life insurance, all of the following are correct EXCEPT: Insurance premiums are not tax-deductible to the business Life insurance is designed to

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In Key Person life insurance, all of the following are correct EXCEPT: Insurance premiums are not tax-deductible to the business Life insurance is designed to protect the business upon the loss of a key employee The death benefit must only be based on loss of revenue Death benefit proceeds are received tax-free

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