Which of the following is true regarding taxation of accelerated benefits

Insurance MCQFederal Tax Consideration for Life Insurance and AnnuitiesWhich of the complying with is true about tax of increased benefits under a life insurance policy?

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Which of the adhering to is true concerning tax of increased benefits under a life insurance policy?
Federal Tax Factor to consider for Life Insurance and Annuities

Which of the following is true about taxation of accelerated benefits under a life insurance policy?

A. There is a 10% penalty for early on circulation of the death benefit

B. They are taxation cost-free to terminally ill insured

C. They are always taxable to chronically ill insured

D. They are always taxed

Answer:B. They are taxes complimentary to terminally ill insured

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