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Which of the following statements BEST represents the tax status of personal disability income policies?
A) Premiums are not deductible; benefits are tax-free.
B) Premiums are deductible; benefits are taxed.
C) Premiums are not deductible; benefits are taxed.
D) Premiums are deductible; benefits are tax-free.
Answer: A) Premiums are not deductible; benefits are tax-free.
The above question Which of the following statements BEST represents the tax status of personal disability income policies?, Was part of Insurance MCQs & Answers. I hope you got the correct answer to your question. Have a great time ahead.
