Except in the Case of Qualifying Accelerated Death Benefits,if a Life

question 109

True/False

Except in the case of qualifying accelerated death benefits,if a life insurance policy is sold or surrendered for a lump sum before the death of the insured,the amount received is taxable to the extent it exceeds the premiums paid.

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Definitions:

Fovea

A small depression in the retina of the eye where visual acuity is highest, due to a high concentration of cones.

Purity

The state or quality of being free from contaminants, immorality, or imperfections; often associated with morals, substances, or intentions.

Saturation

In color perception, the intensity or purity of a color, representing how much a hue is free of white light.

Hue

Hue refers to a color or shade in the spectrum, distinguished by its wavelength or position in the color wheel, representing the aspect of color that is independent of brightness or saturation.