Tag Archives: Taxes on Insurance Policies

Should you pay Income Tax on Life Insurance Payouts?

Should you pay Income Tax on Life Insurance Payouts? In today’s uncertain world, every individual takes insurance policy in some form or the other. But, many of them are not aware of the taxation of the proceeds of insurance policies. The general notion among people is that the proceeds of insurance policies are totally tax-free. … Continue reading Should you pay Income Tax on Life Insurance Payouts?