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	<title>New answer on: What Is A Chargeable Event Gain From A Life Insurance Policy?</title>

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		<title>By: Jim Winkler</title>

		<link>https://insurancelibrary.com/life-insurance/what-is-a-chargeable-event-gain-from-a-life-insurance-policy</link>

		<dc:creator>Jim Winkler</dc:creator>

		<pubDate>Thu, 24 Apr 2014 17:12:39 +0000</pubDate>

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		<description><![CDATA[Great question! Life insurance is designed to provide tax free money to survivors, or in some cases, to provide tax free income through loans taken from the cash value of the policy. If you have a policy that lapses, and has a sizable cash value that you claim, then that money is considered a gain, and is taxable. Managing to borrow more than you&#039;ve paid in has the same effect. I&#039;d strongly advise that you consult with your agent, financial adviser, or tax attorney to do what you can to prevent this from happening. Thanks for asking!]]></description>

		

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		<title>By: David Pipes</title>

		<link>https://insurancelibrary.com/life-insurance/what-is-a-chargeable-event-gain-from-a-life-insurance-policy</link>

		<dc:creator>David Pipes</dc:creator>

		<pubDate>Thu, 24 Apr 2014 16:20:00 +0000</pubDate>

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		<description><![CDATA[ 
When you withdraw money from a cash value life insurance policy you have created an “event.”  If the amount that you have withdrawn, combined with those you have previously withdrawn from the same policy, exceeds the amount that you have paid for the policy, you have a gain and are subject to income tax on that gain.  Please contact your life insurance company if you suspect that this might occur.  The company reports this gain to the I.R.S. ]]></description>

		

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