His beneficiary must pay taxes on the amount of the death benefit that is over and above the cost base of $15,000.
A) I and IV.
B) II and IV.
C) II and III.
D) I and III.
Answer: C) II and III.
Investments MCQ
Insurance-Based Products
His beneficiary must pay taxes on the amount of the death benefit that is over and above the cost base of $15,000.