Is Life Insurance Annuity Taxable?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    If you are the beneficiary of a life insurance policy and have chosen to receive the proceeds in payments, vs a lump sum, you may have chosen the life insurance annuity option. You will be paid interest on the money you have not yet collected. That interest is the only part of the life insurance money that is usually taxed.
    Answered on December 17, 2013
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