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Regarding the taxation of life insurance policies, which of the following is NOT true? Select one: a. life insurance proceeds paid in a lump sum

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Regarding the taxation of life insurance policies, which of the following is NOT true? Select one: a. life insurance proceeds paid in a lump sum cash settlement are not income taxable b. life insurance premiums are not tax deductible X c. life insurance loans are not income taxable d. life insurance policy dividends are taxable income

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