B Bedlam Registered User Messages 275 30 Jul 2012 #1 I have this policy with New Ireland due to mature end of this month taken out 30 years ago are the proceeds payable Tax Free? Thanks Bedlam
I have this policy with New Ireland due to mature end of this month taken out 30 years ago are the proceeds payable Tax Free? Thanks Bedlam
L LDFerguson Registered User Messages 4,663 31 Jul 2012 #2 Yes, life insurance policies from 30 years ago are taxed on a "Net" basis, i.e. the tax is deducted before you see any return. More recent policies are different and are subject to Exit Tax.
Yes, life insurance policies from 30 years ago are taxed on a "Net" basis, i.e. the tax is deducted before you see any return. More recent policies are different and are subject to Exit Tax.