Are Proceeds Of Life Insurance Tax Free?
Posted February 5, 2010 – 4:17 am in: structured settlements FAQI have a term life insurance policy with my spouse as the sole beneficiary. I wanted to know if she were to collect on that policy, are there any taxes due on the face value or would she be entitled to the full face value of the policy?
8 Comments | Tags: Free, Insurance, Life, ProceedsCan You Direct A Beneficiary To Spend Life Insurance Proceeds A Specific Way?
Posted April 21, 2009 – 4:28 am in: structured settlements FAQIn the event that someone dies, can their life insurance proceeds be directed a specific way if they leave a note of such wish? If not, what must be done to direct the proceeds of a life insurance settlement so that specific things be done. For example: paying a bill or buying a house for [...]
5 Comments | Tags: Beneficiary, Direct, Insurance, Life, Proceeds, Specific, SpendWhat Is The Distinction Of Life Insurance Premium And Proceeds?
Posted April 19, 2009 – 10:24 pm in: structured settlements FAQCan you give me the core concept of life insurance proceeds? Does it mean when you are entitled to received proceeds, it includes the premium or the amount invested and the interest therein or you are only entitled to receive the amount invested in the company? Please give me a life situation concept so [...]
5 Comments | Tags: Distinction, Insurance, Life, Premium, Proceeds, WhatWhat Happens To Life Insurance Proceeds Tax-wise If Deposited Into A Banking Account?
Posted April 19, 2009 – 6:03 pm in: structured settlements FAQMy father recently passed away, and the life insurance proceeds were paid out. I am curious to know what are the potential tax implications for Ontario, Canada for depositing said proceeds into a bank account or savings account.
4 Comments | Tags: Account, Banking, Deposited, Happens, Insurance, Into, Life, Proceeds, Taxwise, What
