by Arthur Geffen | Mar 12, 2020 | Life Insurance
Generally the beneficiary of a life insurance policy receives the death benefit proceeds free of tax. However, any interest you might receive on those proceeds would be taxable. This situation might occur if the proceeds are paid into an interest-bearing...
by Arthur Geffen | May 15, 2019 | Life Insurance, Retirement Planning
Whether it’s lifetime income, tax deferral or the prospect of protection from falling markets, an annuity can sound like a good idea for many investors. But clients ought to bring plenty of questions and some skepticism to the table before they commit. “We know...
by Arthur Geffen | Aug 29, 2018 | Estate Tax, Income Tax, Life Insurance
You may think that life insurance is tax-free. Unfortunately, the “no tax on life insurance” idea is only partly true: Life insurance is income tax-free. In other words, recipients of a decedent’s life insurance policy do not have to pay income tax on that sum....
by Arthur Geffen | Jan 5, 2016 | Life Insurance
Life insurance can give your loved ones financial security should you die. In most cases life insurance proceeds are not taxable, so your beneficiaries should get the full amount available under your policy. There are certain circumstances in which life...
by Arthur Geffen | Dec 16, 2013 | Estate Planning, Life Insurance
Some wealthy people are taking another look at survivorship insurance. The relatively obscure product, also known as “second-to die” insurance, insures two lives, usually spouses, with one policy. Like its name indicates, the product pays out the benefit after...
by Arthur Geffen | Oct 15, 2013 | Estate Planning Solutions, Life Insurance
Click the link below and continue reading Top 10 Considerations for Estate Planning with Life Insurance 1. If a life insurance policy is owned by a trust, what is the ongoing maintenance required for the strategy to succeed most effectively? a. Apply for a Tax ID...
