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On today’s episode, Darren and Christina are breaking down the tax implications of life insurance. Starting with a recap of term insurance and permanent insurance and then breaking down the tax implications of paying premiums, the death benefit, cashing out, and transferring ownership of a policy. If you’re serious about infinite banking, you need to check this episode out!

Show notes:

00:00 - Introduction

1:55 - Recap of term insurance vs. permanent insurance

3:35 - Types of ownership

5:05 - Typical tax transactions you need to be aware of

5:40 - Tax implications of paying the premiums on a policy

10:25 - Tax implications on receiving the death benefit

17:55 - Tax implications of cashing out or surrendering a permanent policy

20:55 - Tax implications of transferring ownership of a policy

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