5 years ago5 views
When the policy finally becomes liable over to the insurance company, it has to pay the money to the beneficiary nominated. If the beneficiary is the spouse, then there is nothing to worry about because your spouse will receive the money on your behalf and this amount will not be brought in the court of law. Your spouse will not be levied any amount of tax. This is an extreme good act from the Government and people from all the sectors have appreciated this move from the Government. For further details you can visit us at http://www.islifeinsurancetaxable.net/.