The proceeds from a group life insurance policy may be removed from the insured's gross estate by assigning the ownership interests to __________.

Question

Quizplus · Accepted Answer

The proceeds from a group life insurance policy may be removed from the insured's gross estate by assigning the ownership interest to their spouse, an adult child, and/or to an irrevocable trust. This is true regardless of whether the employee or the employer pays the policy premiums. In order to be removed from the insured's estate, the assignment must take place more than three years prior to the insured's death.

The Proceeds from a Group Life Insurance Policy May Be