Brad owns a cash value life insurance policy. Last year, the cash value increased by 300. Brad received 100 in policyowner dividends on the policy last year. Brad was the beneficiary named in his grandmother's 50,000 life insurance policy.
When she died this past year, Brad received 50,000. How much taxable income relating to life insurance must Brad report for federal income tax purposes?
A) 0
B) 100
C) 400
D) 50,400
Question 2
Lisa does not want her life insurance policy included in her gross estate when she dies. Lisa can remove the life insurance policy from her estate if she does which of the following more than 3 years before she dies?
A) borrow the cash value of the policy
B) make an absolute assignment of the policy to someone else
C) change the beneficiary to someone who does not have insurable interest
D) select a lump sum settlement option and name her estate the beneficiary
Sporic life cycles
Life cycle of Obelia, a colonial cnidarian.
The seed-to-seed life of flowering plants.
Life cycle of Entamoeba histolytica.
Life cycle of a club fungus having two mating strains of hyphae
Life cycle of a Plasmodium species that causes malaria