Jordan owns an insurance policy on the life of his father,Milton.Upon Milton's death,the policy proceeds of $1,000,000 are paid to the designated beneficiary,Kinsey.What are the tax consequences resulting from Milton's death based on the following assumptions?

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The Answer of Jordan owns an insurance policy on the life of his father,Milton.Upon Milton's death,the policy proceeds of $1,000,000 are paid to the designated beneficiary,Kinsey.What are the tax consequences resulting from Milton's death based on the following assumptions?

Jordan Owns an Insurance Policy on the Life of His