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Health and Life Insurance

Category - Tax Issues

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In most cases, the death benefits on corporate owned life insurance policies are __________.

Taxable to the corporation
Not taxable to the corporation
Tax deductible to the corporation
Taxable to the employee

Explanation

Answer: B - In most cases, death benefits on corporate owned life insurance policies are not taxable to the corporation. In addition, if there is cash value build-up inside of the policy, it is typically tax deferred.

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