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What taxes will the beneficiary of my life insurance policy have to pay?

 

A: The beneficiary will not have to pay income taxes -- life insurance proceeds are exempt from the federal income tax if they are received as the result of an insured's death.


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The Kramer Law Firm LLC represents small business clients throughout Washington, D.C. and Montgomery and Prince George's Counties in Maryland, including the communities of Bethesda, Bowie, Chevy Chase, Gaithersburg, Germantown, Laurel, Potomac, Rockville and Silver Spring and all of the surrounding areas.

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