AboutEileen J. Tell Expertise I can help inform and educate people about long term care insurance and whether it is a product they should be considering. I can help them evaluate different policies or answer basic questions about long term care needs and costs. I have over 15 years experience developing and evaluating long term care insurance products and services and have worked with most of the leading companies in the field. I do not receive any commissions or fees from any companies, so my views are independent and neutral.
Question Hello,
I received a life insurance policy for my fathers death, of 10,000. Are there any taxes that need to be paid on Life Insurance? Any suggestions would be appreciated. Regards-Skyler
Answer This is out of my expertise since I focus only on long term care insurance and not life but my guess is that proceeds from life insurance are not taxable. I bet you can find out on www.irs.gov and search their website or call the tax help line they have. Or ask your accountant/CPA if you have one. Or the agent who sold your father the life insurance policy or the insurance company for the policy. Any of those should know the answer.
Sorry I can't be more helpful than giving you other places to ask.
