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Which of the following items are taxable under a life insurance contract?

9.   An 85-year-old patient is brought to the emergency department with lethargy and hypotension. As the nurse assesses the patient’s tongue, it appears dry and furry. Which condition would the nurse suspect the patient has?

Which of the following is NOT a business use of life insurance?

A “viatical settlement” is

Variable Universal Life are especially suited for many business insurance situations where flexibility and growth of cash value are attractive features.

No income tax deduction for premium payments is allowed if the taxpayer is a beneficiary under the policy.

JL is taxed differently than other types of life insurance if the two lives that are insured are not individuals who are married to each other.

No-Lapse Universal Life (NLUL) and “regular” Universal Life products are very similar products, with similar objectives and valuation methodologies.

A group life insurance plan must provide a death benefit that meets the definition of a life insurance contract.

Given the current size of the federal estate tax exemption, estate tax inclusion of a policy is a concern for most purchasers of life insurance.