cash surrender value life insurance taxable, Cash Value Of A Life Insurance Policy news.

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cash surrender value life insurance taxable news

Insurance can be taxable

22.05.12

Life insurance can be divided into two main types: term and permanent. Term insurance has no investment component and pays out a tax-free death benefit if you die during the term of coverage.

By contrast, permanent insurance, generally universal or whole-life, is designed to last throughout your life and often contains an investment component allowing you to build up cash values inside the policy in a tax-sheltered manner. You have the ability to surrender your policy prior to death to access what’s known as the cash surrender value (CSV).


Source: Financial Post (blog)

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Don't Drop Your Life Insurance
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American Chronicle - May 18, 2011 Changes in the cash value of the insurance products are not deductible or taxable. The company repurchased approximately 1125000 shares of its common stock in the second quarter of 2011 at an average price of $22.23 per share.

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