Which of the following statements regarding business life insurance policies is NOT true?
A) Death benefits are not taxable.
B) Key-person life insurance policies are not deductible to the business.
C) Premiums are tax deductible, except for executive bonus plans.
D) Premiums for executive bonus policies are taxable income to the employee.
Ans: C) Premiums are tax deductible, except for executive bonus plans.
Business
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