4 February 1993 T.I. (Tax Window, No. 29, p. 20, ¶2435)

Premiums paid by a corporation for accidental death and dismemberment insurance policies covering its directors and shareholders will not be deductible to it.

Proceeds of an accidental death and dismemberment insurance policy received by a corporation in respect of directors or shareholders will not be included in its income.

Proceeds of an accidental death and dismemberment insurance policy received by a corporation in respect of directors or shareholders will not be included in its income.