George's Bowling Alley provides a group disability income policy to its employees. Employees pay a portion of the premiums. Which of the following is true?

a. Premiums are completely tax-deductible for George and all employees.

b. Benefits are never taxable.

c. The portion of premiums paid by George is not tax-deductible.

d. Benefits are taxable to employees based on the portion of premiums paid by George.

Answer: d. Benefits are taxable to employees based on the portion of premiums paid by George.

Pre-Licensing Insurance

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What is the other term for the cash payment settlement option?
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Which of the following best defines target premium in a universal life policy?
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A beneficiary change can occur
No existing agent's license will be revoked until
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A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called a(n)
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The voluntary relinquishment of a legal right is called
What documentation grants express authority to an agent?
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The requirement that agents not commingle insurance monies with their own funds is known as
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