Which of these statements is INCORRECT regarding the federal income tax treatment of life insurance? Premiums are normally not tax deductible Cash dividends are normally not taxed Entire cash surrender value is taxable Proceeds are received tax-free if there is a named beneficiary
Which of these statements is INCORRECT regarding the federal income tax treatment of life insurance?
Premiums are normally not tax deductible
Cash dividends are normally not taxed
Entire cash surrender value is taxable
Proceeds are received tax-free if there is a named beneficiary
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