Except in cases in which the proceeds of any insurance policy are included in the gross estate of a decedent, the proceeds of any policy shall be a gift if the person paying the premiums on such policy is not the same person who receives the policy proceeds when the same is liquidated. In these cases, the policy beneficiaries shall be required to pay the appropriate taxes. History —Jan. 31, 2011, No. 1, § 2042.09, retroactive to Jan. 1, 2011.
Puerto Rico Legal Code