Is a Life Insurance Policy Cash Out Taxable?

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Is a Life Insurance Policy Cash Out Taxable? – This is a place for the community to provide tips and advice on Is a Life Insurance Policy Cash Out Taxable?. This topic was created by Nubia Castillo and the tips are provided by the community. The tips you add here can be your own or referred from another site. The best tips are then ranked at the top when up-voted by members of the community.

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Tip 1
How to Calculate Taxable Income When Cashing Out Life Insurance Pre-Death More
Published: 9 years, 3 month(s) ago by Matthew Whitaker | permalink
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Your whole life or variable life insurance policy could be a source of cash while you’re still alive. Each policy has a cash-surrender value that grows as you continue to pay premiums. If ...

For further reading: http://finance.zacks.com/calculate-taxable-income-cashing-out-life-insurance-predeath-1513.html ^[1]

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Tip 2
Cashing In Your Life Insurance Policy More
Published: 9 years, 3 month(s) ago by Uffe Larsen | permalink
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Tough times call for desperate measures, but is raiding your life insurance policy even worth considering?
Tags: life insurance,cashing in life insurance,surrender,surrender life insurance,surrendering life insurance,life insurance settlement,settlement,withdrawal,withdrawing life insurance funds,loans,borrowing from your insurance policy,401k,options,fa seeker,wm-high net worth estate planning,wm-high net worth insurance

For further reading: http://www.investopedia.com/articles/pf/08/life-insurance-cash-in.asp ^[2]

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Life Insurance Policy Loans: Tax and Other Implications More
Published: 9 years, 3 month(s) ago by Dustin Hepburn | permalink
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For further reading: http://www.360financialliteracy.org/Topics/Insurance/Life-Insurance/Life-Insurance-Policy-Loans-Tax-and-Other-Implications ^[3]

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Tip 4
Will I be taxed on the growth of the cash value of my life insurance? What if my policy pays dividends? More
Published: 9 years, 3 month(s) ago by Brita van Riemsdijk | permalink
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For further reading: http://www.360financialliteracy.org/Topics/Insurance/Life-Insurance/Will-I-be-taxed-on-the-growth-of-the-cash-value-of-my-life-insurance-What-if-my-policy-pays-dividends ^[4]

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Category: Fun | 9 years, 3 month(s) ago

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Contributors

Brita van Riemsdijk, Uffe Larsen, Dustin Hepburn, Matthew Whitaker

References & Citations

1. http://finance.zacks.com/calculate-taxable-income-cashing-out-life-insurance-predeath-1513.html

2. http://www.investopedia.com/articles/pf/08/life-insurance-cash-in.asp

3. http://www.360financialliteracy.org/Topics/Insurance/Life-Insurance/Life-Insurance-Policy-Loans-Tax-and-Other-Implications

4. http://www.360financialliteracy.org/Topics/Insurance/Life-Insurance/Will-I-be-taxed-on-the-growth-of-the-cash-value-of-my-life-insurance-What-if-my-policy-pays-dividends