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Par value
Life Insurance Proceeds
The money paid out by a life insurance company to the beneficiary upon the insured's death.
Taxable
Describes income, goods, or transactions subject to taxation, according to government laws and regulations.
Transactions
Transactions are actions carried out between two or more parties that involve the exchange of goods, services, or financial assets.
Original Issue Discount
Refers to the discount from the par value at which a bond or other debt instrument is issued, resulting in a difference that is treated as tax-exempt or taxable interest over the life of the bond.
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