Snails - Response on Threads

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SilverBear

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lol!!! Rofl!!!!
 

SilverBear

Super Member
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Sep 30, 2009
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Is it taxed?

OK... hypothetical situation...

If my, say, Dad held onto his life insurance policies and I, say, was the beneficiary, then, say, no, benefit is not taxed.

But if, say, my Dad transferred ownership to, say, me, then yes, say, the benefit IS taxed.

So, say, I wanted to surrender the policy, I'd get taxed anyway. So, say, why hold onto it, say???
 
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