If an individual owns a life insurance policy, upon their death their estate will be fully subject to tax if which of the following occurs:
Explanation
Answer: C - If an individual owns a life insurance policy, upon their death their estate will be fully subject to tax if the proceeds of that life insurance policy are payable either directly or indirectly to their estate, or if the insured, while still alive, held an ownership interest in the policy. An example of this would be if the individual had the right to change the policy beneficiary, or to surrender or cancel the policy.
