Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Is there such a thing as an accelerated death benefit tax?

April 26, 2017Accelerated benefit death tax thing

0

Posted

Is there such a thing as an accelerated death benefit tax?

1 Answer

0

Posted

If an individual is declared terminally ill and death benefits are accelerated, these funds are generally not taxable. Accelerated death benefits used to pay for the long-term care of a chronically ill, but not terminally ill, individual are also not taxable.