Which of the following statements about viatical settlements is TRUE?
- A) The arrangement allows the insured to maintain ownership of the life insurance policy.
- B) The purchaser of the insured’s life insurance policy under the arrangement receives the entire death benefit when the insured dies.
- C) The proceeds received by the insured under the arrangement are generally taxable as income.
- D) The insured receives the entire face value of the policy under the arrangement.