The only apparent drawback of this arrangement is a dramatic increase in accounts payable account, which shows up on the balance sheet as a short - term liability. (thebalance.com)
Another advantage of life insurance is that the lump sum benefit payable on death is tax free. (reliancenipponlife.com)
These rates show the amount of tax payable in every dollar for each income bracket for individual taxpayers. (ato.gov.au)