Will The Us Army Really Pay My Wife The Life Insurance If I Die? And Is It Tax Free?
Posted December 9, 2009 – 10:22 pm in: structured settlements FAQHello. Im just new in the army coz i graduated basic training last january and im in a stryker unit going to afghanistan thies july. I have a feeling im not gona be able to come back… and if i dnt will my wife really get the life insurance worth 200,000$ in my contract tax free? or with tax?
Tags: Army, Free, Insurance, Life, Really, Wife, Will
7 Comments
Life insurance death benefits are not taxable income.
Your wife will be paid the money if you die and it is tax free. The only way your wife wouldn’t get paid the money is if you committed treason or was in a deserter when you died. Neither would be the case if you died in Afghanistan. By the way, your chances of dying there are pretty low. We been there for eight years and lost less than 700 people. You have a better chance of getting killed in a car accident in the US.
Not for nothing but it damn near sounds like you are planning on dying? They don’t pay for suicide, so I hope that’s not in your plans. However if that was not your intention then the answer is yes they will pay death benefits and the insurance.
400k now or last time i check. and you go choose how much of the 400k she can get like 50% to your wive and the other 50% to your monther.
and you are gonna make it back, its not as bad as before..
Answering your questions, yes and yes.
However, do you realize it is only $27/month for the $400,000 policy?
yes, no tax. If you paid too much to the state and got money back, you would still owe some. But, this way no. No taxes and no deductions god forbid.
Don’t be so melodramatic. Most people sent to Afghanistan come back just fine. This isn’t ‘Nam or WWII.