What is the usual federal income tax treatment of individual life insurance?

A. Deductibility of premiums, taxable death benefits
B. Non-deductibility of premiums, non-taxable death benefits
C. Deductibility of premiums, non-taxable death benefits
D. Non-deductibility of premiums, taxable death benefits

Answer: B. Non-deductibility of premiums, non-taxable death benefits