Life Insurance Proceeds Because of the Death of the Insured

question 12

Multiple Choice

Life insurance proceeds because of the death of the insured are fully excludable from the gross income of the recipient if the payment is made:

• A)It does not matter how these payments are made.
• B)Over time.
• C)As a lump sum.
• D)It does not matter how these payments are made and over time.

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Definitions:

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Informal language consisting of words and expressions that are not considered standard in the speaker's language but are common in certain social groups.

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