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I Was The Beneficiary Of My Wife Life Insurance & I Received A $3260 Check.?

PostPosted: Tue Oct 03, 2017 3:13 am
by Alexander
Death benefit proceeds from a life insurance policy ARE income-tax free. I'm not sure what type of product (an annuity, perhaps?) you get the distribution from. Feel free to contact me with more details, and I'm sorry for your loss.

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I Was The Beneficiary Of My Wife Life Insurance & I Received A $3260 Check.?

PostPosted: Thu Oct 05, 2017 2:02 pm
by darcell13
You should call the insurance company to get a better understanding of what the check was for.
They don't withhold money on anything taxable unless you ask them to.

And, life insurance isn't taxable.
So, it's likely not taxable.

I Was The Beneficiary Of My Wife Life Insurance & I Received A $3260 Check.?

PostPosted: Sat Oct 07, 2017 6:42 pm
by Swayn
Interest is taxable, even if it comes from a life insurance company.

Only the actual life insurance benefit itself is not taxable.
The interest is taxable.

I Was The Beneficiary Of My Wife Life Insurance & I Received A $3260 Check.?

PostPosted: Wed Oct 11, 2017 7:15 pm
by Bradford
Are you sure this wasn't a 401 or other retirement plan rather than life insurance???

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