Q570
In a keyman’s policy
A.
The premium paid by the employer is treated as an allowable business expense
B.
In a death claim the policy money is payable to the company
C.
Death claim proceeds are treated as taxable income of the employer
D.
All of the above
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
In a keyman’s policy the premium paid by the employer is treated as an allowable business expense, in a death claim the policy money is payable to the company and death claim proceeds are treated as taxable income of the employer.