All of the following statements concerning the use of life insurance as an Executive Bonus are correct EXCEPT 1. The employer pays a bonus to a selected employee to fund the policy. 2. It is considered a nonqualified employee benefit. 3. The policy is owned by the company. 4. Any type of insurance policy may be used.

All of the following statements concerning the use of life insurance as an Executive Bonus are correct EXCEPT
1. The employer pays a bonus to a selected employee to fund the policy.
2. It is considered a nonqualified employee benefit.
3. The policy is owned by the company.
4. Any type of insurance policy may be used.

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