G
Guest
Guest
What are the tax implications of surrendering a VUL. Is it ordinary income... or is there a basis to be considered?
Al
Al
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Why would someone surrender a VUL?
Because it will implode in 3 years and be worthless unless large contributions are made to keep it in force.
Al
Check Tax Facts, if there is a gain, it is taxed as ordinary income.