Concerning federal tax treatment of life insurance payments, which of the following statements is/are correct?
A. Death benefits paid to the beneficiary are generally tax exempt.
B. Ordinary life premiums are tax deductible for the owner.
C. Employer paid premiums for their group life insurance plan are not tax deductible as a business expense.
D. None of the above is incorrect.
Ans: A. Death benefits paid to the beneficiary are generally tax exempt.
Business
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