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How Your Clients Get Taxed on Sold Life Insurance
By
Allison Bell
Commentary March 10, 2024 at 10:25 PM
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What You Need To Know
- Insureds who seem likely to die within two years pay no federal income taxes on life policy sale proceeds.
- For other insureds, one important factor is the total amount of premiums paid.
- Another important factor is the policy surrender value.
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