Client received a check for $10,000 from Aflac. It is a reimbursement of her premiums because she did not made a claim on the policy for 20 years. The premiums were never deducted as medical insurance.
Is this reimbursement taxable?
Premium Reimbursement after 20 years.
Feb 07, 2013
2 Replies
Sounds like a NO.
"mammondee" wrote
Sounds like no, with a "but". Could some of it be "earnings" on her policy? If so, that amount should be taxable. The AFLAC duck would have to send out a 1099 though.
Join the Discussion
Have something to add? Share your thoughts — no account required.
Didn't find your answer?
Ask the community — no account required