Which of the following is NOT a favorable tax feature of a whole life insurance policy?

A$.$ The earnings are generally tax deferred.

B$.$ The death benefit received by the beneficiary is typically income tax free.

C$.$ Cash surrender value $($CSV$)$ proceeds in excess of investment in the contract are received income tax free.

D$.$ If the policy is surrendered, premiums paid by the owner can reduce any taxable gain that may occur.