Insurance Tips

Are the proceeds from the sale of the policy of life insurance through an intermediary, such as life, subject to taxes?

Do the benefits Death of a Euro. Political Trust life care liabilities?

If policy is surrendered before death for cash, the amount over premiums paid is taxable. The amount that the original insurance company paid is ordinary income. The amount above that amount that * other * party pay (negotiation of life) is to gain long-term capital. The IRS issued advice earlier this year. 2009-13 and 2009-14