Anonymous asked in Business & FinanceInsurance · 5 months ago

If a deceased person has “incidents of ownership” in a life insurance policy at the time of his or her death (continued)?

the death benefits are included in the decedent’s gross estate. When would the decedent not have incidents of ownership?

a) When the decedent assigned the policy proceeds as security for a loan.

b) When the decedent is authorized to change beneficiaries.

c) When the decedent can cancel the policy at any time during his lifetime.

d) When the decedent paid none of the policy premiums.

4 Answers

  • NA
    Lv 7
    4 months ago

    The internet is your friend.  People are guessing here.

  • car253
    Lv 7
    5 months ago

    This is stuff you will never use.   

  • 5 months ago

    A. The ownership interest allows the owner to do any one of B, C or D.

  • Anonymous
    5 months ago

    You should do your own research and homework 😉.

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