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Level 1
March 4, 2020
Question

I received a lump sum payout from a employee paid voluntary Critical Illness Insurance Policy. The premiums for this policy are post-tax. Would I owe taxes on the payout?

  • March 4, 2020
  • 1 reply
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1 reply

Level 15
March 5, 2020

No, you do not owe tax on this money since you paid the premiums with after-tax money.

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