Xử lý thuếCâu 708 / 716
The general rule that life insurance death proceeds are income-tax-free can be lost under the 'transfer-for-value' rule when the policy is:
a.Allowed to lapse for nonpayment of the premium in a year in which it was never sold or transferred to anyone
b.Sold or transferred for valuable consideration to certain parties, making part of the proceeds taxable
c.Paid up with level annual premiums and then held by the original owner until the insured's death
d.Owned by the insured's spouse, who paid all of the premiums from a joint checking account
Giải thích
If a policy is transferred for value to a non-exempt party, the death benefit can become partly taxable, an exception to the usual income-tax-free rule. Simply keeping or paying up a policy does not trigger it.
Luyện miễn phí toàn bộ 716 câu hỏi — không cần đăng ký.
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Câu hỏi liên quan cùng chủ đề
- A Section 1035 exchange permits a tax-free transfer between:
- Which 1035 exchange is NOT permitted on a tax-free basis?
- The main tax disadvantage of a Modified Endowment Contract (MEC) is that:
- When death proceeds are left with the insurer and paid to the beneficiary in installments, the portion that is taxable is the:
- Premiums paid for personal life insurance are:
- The cash value inside a permanent life insurance policy grows:
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Đội ngũ PrepPass · Đối chiếu với California Life & Health Insurance License Exam · Quy trình kiểm tra
Người kiểm duyệt John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — kiểm tra)