Taking out a loan against your life insurance policy does not count as taxable income. Learn how a taxable event occurs if ...

One of the most valuable features of life insurance is that the beneficiary receives the death benefit income-tax free.

Owning a life insurance policy can be an effective way to ensure that your loved ones are provided for if you die prematurely. You pay premiums on the policy, and if the policy is still in force at ...

The average funeral cost in 2021 was $7,848 for a wake and burial or $6,971 for cremation. The average cost of settling an estate varies, but a complicated estate could push $5,000 with ease. And none ...

Generally, no. As a general rule, death proceeds are excludable from the beneficiary’s gross income. 1 Death proceeds from single premium, periodic premium, or flexible premium policies are received ...

This post has been updated as of March 28, 2024, to reflect changes to the Massachusetts estate tax exemption. There is a common misconception that life insurance benefits are not subject to estate ...

Are Dividends on a Life Insurance Policy Taxable? Generally, dividends on a life insurance policy are not considered taxable income by the IRS. This is often because they are viewed as a return of ...