If I surrender this life insurance policy and take the $40,000, are there any tax consequences?

Taxes, Life Insurance
Answers
Sort By:
Most Helpful
January 2016
60% of people found this answer helpful

Yes, any appreciation above your premium contributions will probably be taxed. You should contact the life insurance company and ask them directly what the taxable income would be.

August 2017
August 2017
August 2017
August 2017