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Is life insurance taxable
- Thread starter isis297
- Start date
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adjusterjack
Senior Member
No.
Life insurance death benefit is not taxable.
Life insurance death benefit is not taxable.
cbg
I'm a Northern Girl
By chance was this employer sponsored insurance? (If no, disregard the rest of post)
If yes, is it fully employer paid or is it partially or entirely employee paid?
If any part of it is employee paid, is the premium deducted pre- or post-tax?
If it is fully employer paid, is the face value of the policy over or under $50K?
If yes, is it fully employer paid or is it partially or entirely employee paid?
If any part of it is employee paid, is the premium deducted pre- or post-tax?
If it is fully employer paid, is the face value of the policy over or under $50K?
Taxing Matters
Overtaxed Member
That depends on what kind of policy it is and what benefits came with the policy. The death benefit paid on a term policy is not taxable income. But if it was a whole life or other plan that included some kind investment component the investment returns would be taxable income.