Which of the following statements is (are) true regarding taxation of life insurance?
I. Life insurance proceeds paid in a lump-sum to a designated beneficiary are received free of federal income taxes.
II. The policyowner must pay taxes annually on the amount by which the cash value of his or her life insurance policy has increased.
A) I only
B) II only
C) both I and II
D) neither I nor II
Question 2
Mary is interested in comparing life insurance policies. Rather than looking at the cost per thousand, she would like to compare the rate of return earned on the savings portion of the policy. Which of the following would be of the most interest to Mary?
A) the policy's Linton Yield
B) the policy's surrender cost
C) the policy's traditional net cost
D) the policy's net payment cost
Animal life cycles
Jan de Heem, Still Life with Lobster.
U.S. Life Expectancy by Year of Birth
Life cycle of Toxoplasma.
Life cycle of a Plasmodium species that causes malaria
A generalized life cycle of a basidiomycete.