Program Requirements: 1  Must be at least 18 years of age. 2  Must have a high school diploma or a graduate equivalency diploma (G.E.D.) 3  Must provide proof of Level II criminal background screening prior to enrollment.  Must provide proof of current 1  immunizations. Must provide proof of annual tuberculin skin test  (PPD)
Life insurance policy premiums do not typically qualify as eligible income tax deductions. However, in certain situations involving employee benefits and other corporate arrangements, some of the premiums paid may be tax deductible.
If my clientâs policy matures prior to the insuredâs death, the policy will typically pay out its cash value. How will this sum be taxed? If the policy matures prior to an insuredâs death, it ceases to be life insurance and is treated as a taxable distribution. As such, the cash value will be taxed as ordinary income to the extent it exceeds the taxpayerâs basis into the policy (i.e., the sum of after-tax premiums) .