15. The annual increase diene cash duender value of a life insurance policy: a. Is taxed when the individual dies and the heirs collect the insurance proceeds. b. Must be included in gross income each year under the original issue discount rules. c. Reduces the deduction for life insurance expense. d. Is not included in gross in vch y sach year because of the substantial restrictions on gaining access to the policy's value.
15. The annual increase diene cash duender value of a life insurance policy: a. Is taxed when the individual dies and the heirs collect the insurance proceeds. b. Must be included in gross income each year under the original issue discount rules. c. Reduces the deduction for life insurance expense. d. Is not included in gross in vch y sach year because of the substantial restrictions on gaining access to the policy's value.
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Transcribed Image Text:15. The annual increase diene cash duander value of a life insurance policy:
a. Is taxed when the individual dies and the heirs collect the insurance proceeds.
b. Must be included in gross income each year under the original issue discount rules.
c. Reduces the deduction for life insurance expense.
d. Is not included in gross in ych y sach year because of the substantial restrictions on gaining access to the
policy's value.
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