Are They Going to Start Taxing Life Insurance?

cash value life insuranceThis one has been around for a while but is picking up steam recently, are they going to start taxing life insurance?

Given the fiscal cliff and the we have an answer no wait no we don't whip saw that has been taking place in Washington, it's no surprise that every fear monger out there has taken a moment to jump on this train. Let's not forget NAIFA and IFA-PAC's constant need to recruit and open up members' wallets by shrilling this one at every luncheon and on every newsletter (they're coming and their coming after us!). We can't always hate them though, props of course, for their work on 151a.

But whether we like it or not we're in a pretty serious financial situation and that means we have to take all theories about how Congress will rob Peter to pay Paul. So, let's discuss why or why not Congress will drill deeper into your pockets and start raiding your life insurance policy for tax revenue.

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