A viatical settlement company purchased a $250,000 policy for $160,000. It paid additional premiums of $7,000 (in total) over the next three years before the insured died. What income must the viatical company report from the policy proceeds in the year of the insured's death?

Answer rating: 100% (QA)

The viatical settlement companys income in the year of the insureds death is the difference betwe... View the full answer