Disability

Question 1

Premium payments for personally owned disability income policies are?

Answer 1

Not tax deductible 

Question 2

I’ve after the illumination. A totally disabled insured qualified and started receiving benefits from his disability income policy that has a waiver of a premium rider. What will most likely happen to the premiums paid into the policy during an elimination period?

Answer 2

Premiums will be refunded 

Question 3

The benefits received by the business in a disability buy sell policy are?

Answer 3

 Income tax free 

Question 4

Under a key person, disability income policy, premium payments are?

Answer 4

Are made by the business and are not tax deductible.