Tax and Life Insurance
Permanent life insurance policies relish favourable tax treatment. The growth of cash value is usually on a tax-deferred basis, meaning that you reward no taxes on any income in the policy so lengthy as the policy waits in force. Provided you chase regulations to sure premium restrictions, cash can be removed out of the policy without being subject to taxes since policy lends usually are not assessed as taxable income. In attachment to this any withdrawals upward to the quantity of premiums rewarded can be removed without being taxed.
Last Updated on Saturday, 12 February 2011 21:26