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.

Tip 1 - How to Calculate Taxable Income When Cashing Out Life Insurance Pre-Death

Published: 9 years, 3 month(s) ago | Submitted by Matthew Whitaker | permalink

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]

Tip 2 - Cashing In Your Life Insurance Policy

Published: 9 years, 3 month(s) ago | Submitted by Uffe Larsen | permalink

Tough times call for desperate measures, but is raiding your life insurance policy even worth considering?
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For further reading: http://www.investopedia.com/articles/pf/08/life-insurance-cash-in.asp ^[2]