Life insurance question

lookingforward
Wed, 05 Oct 2011 08:49:27 +0000

Not just an insurance salesrep, a financial planner.

I don’t want to muddy the waters. Some life insurance can be paid out as an annuity, and interest is reported. There are cases were, if I understand correctly, a 1099 may be issued. And, how things are viewed by the IRS can depend on several factors. (Though, in general, a death benefit is not taxable.) An expert is needed. Sorry if I confused things, but I don’t believe there is any simple answer.