The proceeds received under a life insurance endowment contract is NOT considered part of gross income: (2011 Bar Question)
2011 Bar Exam · Taxation Law · Question 29 · Multiple choice
The question
The proceeds received under a life insurance endowment contract is NOT considered part of gross income: (2011 Bar Question)
- A.if it is so stated in the life insurance endowment policy.
- B.if the price for the endowment policy was not fully paid.
- C.where payment is made as a result of the death of the insured.
- D.where the beneficiary was not the one who took out the endowment contract.
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