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2. Do You Pay Taxes on Life Insurance? - AOL

   www.aol.com/pay-taxes-life-insurance-144951266.html

   Owning a life insurance policy can be an effective way to ensure that your loved ones are provided for if you die prematurely, and it can also play an important role in estate planning. But do you ...

3. Internal Revenue Code section 79 - Wikipedia

   en.wikipedia.org/wiki/Internal_Revenue_Code...

   Insurance cash values may provide tax-free income as long as the policy is kept in force and withdrawals do not exceed the cost basis; A section 79 plan may be used for the following applications Group life insurance benefits; Deductible insurance to fund estate planning needs of the business owner

4. IRS Section 7702: Life Insurance Tax Definition - AOL

   www.aol.com/irs-section-7702-life-insurance...

   Section 7702 is designed to prevent abuses of the tax-advantaged nature of life insurance. It does so by imposing a two-pronged test on life insurance contracts. How the Section 7702 Test Works

5. How Can I Avoid Taxes on Life Insurance Proceeds? - AOL

   www.aol.com/avoid-taxes-life-insurance-proceeds...

   If you are the beneficiary of a life insurance policy from a person who has an estate over the estate tax exemption limit ($12.06 million) you could have to pay estate taxes for that payout.

6. Life insurance - Wikipedia

   en.wikipedia.org/wiki/Life_insurance

   Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person.

7. Federal Insurance Contributions Act - Wikipedia

   en.wikipedia.org/wiki/Federal_Insurance...

   Median household income and taxes. The Federal Insurance Contributions Act (FICA / ˈ f aɪ k ə /) is a United States federal payroll (or employment) tax payable by both employees and employers to fund Social Security and Medicare [1] —federal programs that provide benefits for retirees, people with disabilities, and children of deceased workers.