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Life Insurance Death Benefits - Taxable or Non Taxable?
One policy, I was just a beneficiary of whatever dollars. The other policy, I was the owner, as well as the beneficiary of a policy on my dad. He transfered the ownership to me in 1994. I paid no premiums. Either it was paid up or the dividends paid the premium, I'm not sure. Now the death benefits paid -- Taxable of non taxable?
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