Which of the following statements about participating and nonparticipating life insurance policies is NOT correct?
A) Participating policy premiums are normally slightly higher than nonparticipating policy premiums.
B) Policy dividend payments cannot be guaranteed.
C) An extra charge to cover unexpected contingencies is built into the premiums of participating policies.
D) Policy dividends are considered taxable income."
Ans: D) Policy dividends are considered taxable income."
Business
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