Accelerated Death Benefits Received by a Terminally Ill Person May

question 56

True/False

Accelerated death benefits received by a terminally ill person may be excluded from taxable income.

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Definitions:

Wear-And-Tear

is a theory that suggests the body ages as a result of accumulated damage to cells, tissues, and organs over time, much like inanimate objects deteriorate.

Senescent

The process or condition of aging, associated with biological and functional declines in living organisms.

Terminal Period

The final stage of life, often referring to the time when an individual is facing death imminently, focusing on palliative care and end-of-life issues.

Primary Deterioration

Refers to the original or main worsening of a condition or situation, before any secondary effects or complications.