Taxation of Life Insurance

A life insurance policy is a contract between a policy holder and an insurance company whereby, in consideration for the payment of speci-1 Canadian Life and Health Insurance Association, Canadian Life and Health Insurance Facts, 1994 ed. (Toronto: CLHIA, 1994), 5. TAXATION OF LIFE INSURANCE 1509 (1995), Vol. 43, No. 5 / no 5 fied premiums, the insurance company agrees to pay to a designated ... ................
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