a variable annuity contract holder dies during the accumulation period. which of the following is true regarding the tax consequences? qid: 3569540 mark for review a all proceeds are considered a return of capital. b the growth is taxable as a capital gain to the beneficiary. c proceeds in excess of cost are taxable as ordinary income to the beneficiary. d the growth above cost is not taxable if the beneficiary rolls it over into a retirement plan.
