The transfer for value rule does not apply to transferees

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Question 6. Gain on the surrender of a life insurance policy is taxed at capital gains rates.

True

False


Question 7. The increase of a policy's cash value is subject to tax at ordinary income rates.

True

False


Question 8.  The proceeds of life insurance are always free from ordinary taxes.

True

False


Question 9. The transfer for value rule does not apply to transferees with a valid insurable interest in the life of the insured.

True

False


Question 10 . The transfer for value rule will not apply if there is no consideration for a transfer of life insurance.

True

False

 

Reference no: EM13476888

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