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The annual increase in the cash surrender value of a life insurance policy: a.Is not taxed when the individual dies and the heirs collect the
The annual increase in the cash surrender value of a life insurance policy:
a.Is not taxed when the individual dies and the heirs collect the insurance proceeds. b.Reduces the deduction for life insurance expense. c.Must be included in gross income each year under the original issue discount rules. d.Is included in gross income each year because of the substantial restrictions on gaining access to the policy's value.
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