POSTED BY March 23, 2013 7:28 pm COMMENTS (2)ON
I have couple more questions on term life insurance.
1) Is the death benefit of a term life insurance paid to the nominiee(s)(upon the death of the insured) subject to income tax? If so is it treated as one-time income.
2) are there any tax implications of discontinuing a term life insurance policy?
Thanks in Advance,