Which of the following statements is false concerning the taxation of life insurance?
A) Beneficiaries receive death benefits free from any federal taxation.
B) The value of the life insurance death benefit is always included in the insured's estate.
C) If a non-insured/owner dies, the value included in the decedent's estate is approximately the cash value of the insurance contract.
D) Interest earned on settlement proceeds is taxable.
Correct Answer:
Verified
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