Tell us, does beneficiary have to pay tax on the proceeding of life insurance policy?
Submitted by: MuhammadGenerally, the benefits on the life insurance policy are tax free and the beneficiary is not liable to pay any tax after the death of the policy holder. But if you are changing your beneficiary for monetary gain or other purposes then the beneficiary has to pay tax on it.
Submitted by: Muhammad
Submitted by: Muhammad
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