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June 16, 2009
Insurance | Personal Finance

Is there Federal Income Tax on life insurance?

    Published: 06-16-2009
    Views: 20,860

    Description

    Bob Ley, Vice President of Sales with AIG, explains how life insurance benefits are generally not subject to federal income tax.

    Transcript

    Host: Is there Federal Income Tax on life insurance?

    Bob Ley: Based on current Federal Income Tax laws typically there is no Federal Income Tax on life insurance benefits.

    Videos in this Series

    1

    How to Buy Life Insurance

    2

    What protection does Life Insurance provide?

    3

    Who needs Life Insurance?

    4

    What is the death benefit?

    5

    Is there Federal Income Tax on life insurance?

    6

    What questions should I ask to determine if I need Life Insurance?

    7

    How much Life Insurance do I need?

    8

    I’m a stay at home parent, do I need Life Insurance?

    9

    Is there more than one kind of Life Insurance policy I can buy?

    10

    When should I buy Life Insurance?

    11

    What are the kinds of Life Insurance I can buy?

    12

    What are whole-life policies?

    13

    What are universal life policies?

    14

    What are variable life and variable universal life policies?

    15

    What is term insurance?

    16

    What is the most expensive type of Life Insurance?

    17

    How long should I buy Life Insurance for?

    18

    How does health factor into my coverage and cost?

    19

    Can I get away with not telling the Insurance Company something that may affect my health coverage?

    20

    How do I choose the right insurance company to buy from?

    21

    Who should I make my beneficiary?

    22

    What is involved in the application process?