4 years ago

When a policyowner cash surrenders a Universal Life insurance policy in it's early years, this may be considered a red flag for

1 answer:

3 0

When a policy owner cash surrenders a Universal Life insurance policy in its early years, this may be considered a red flag for the government. The pre – death distribution of an insurance policy is taxable. Therefore, when an owner surrenders his life insurance in its early years, he is trying to avoid the possible taxes.

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