All but which of the following statements regarding benefits received by an individual from a business disability buy-sell agreement is correct?

a. The beneficiary does not need to pay income tax on benefits received.

b. Benefits are not received by the individual within three months of the disabling injury.

c. Benefits are used to provide an income to a business partner in exchange for his/her share of ownership in the company.

d. The individual did not pay premiums for the insurance coverage.

Answer: A

Insurance

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