Posted: Wed Oct 19, 2005 03:43 am Post Subject: life insurance and income tax
The cash value earnings of a life insurance are not income taxable. But if you stop the policy running then you may need to pay the taxes on the earnings from your life insurance policy. Also in case if you die, the death benefits of the life insurance policy will be still subject to the estate taxes.
Posted: Wed Oct 19, 2005 03:43 am Post Subject: life insurance and income tax
The cash value earnings of a life insurance are not income taxable. But if you stop the policy running then you may need to pay the taxes on the earnings from your life insurance policy. Also in case if you die, the death benefits of the life insurance policy will be still subject to the estate taxes.
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