Practice question
What does Section 32(B)(2) generally exclude when an insured receives back insurance premiums under the described contracts?
- Every future investment return forever
- Every unrelated salary
- The qualifying return of premiums paid
- Only a corporate dividend
- Only the insurer’s profit
Legal references
- NIRC, Sections 26, 32(B) and 40(A), (C)(3)-(5), read with later amendments: https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
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