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Multiple Choice Life Insurance Proceeds may be subject to Income Tax Gift Tax Estate Tax All of the above Whole Life Policies typically allow for
Multiple Choice
- Life Insurance Proceeds may be subject to
- Income Tax
- Gift Tax
- Estate Tax
- All of the above
- Whole Life Policies typically allow for
- Policy Loans
- Policy Cancellation receiving the Cash Surrender Value
- Face Value received by beneficiary at death
- All of the above
- Only C
- A life insurance policy is included in the estate if
- The owner of the policy is also the insured
- The decedent has incidence of ownership on a policy on someone elses life
- The owner/insured policy is gifted within 3 years of death
- All of the above
- Only A & B
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