Is life insurance taxable?

Answer Benefits received from a life insurance policy may be considered taxable compensation by the Internal Revenue Service (IRS). Policy benefits that can be taxed will depend on the insurance plan and ... Read More »

Top Q&A For: Is life insurance taxable

Are life insurance payments taxable?

The IRS does not consider life insurance payments made to a beneficiary at the time of the insured's death to be taxable income. An exception would be if the policy had been turned over to the bene... Read More »

Are receipts from life insurance taxable?

In most instances, the Internal Revenue Service (IRS) does not tax life insurance proceeds received as a lump sum payment following the death of an insured party. However, any interest received as ... Read More »

Is a VA life insurance policy taxable?

According to, the dividends received from Veterans' Administration life insurance programs are not taxable. The IRS also doesn't tax lump-sum death payments received by beneficiaries f... Read More »

Are life insurance premiums taxable?

Individually owned life insurance policies are paid for with after-tax dollars, which provides no additional income tax deduction and keeps the policy proceeds income tax-free. Corporate-owned life... Read More »