Online Life Insurance
Online Life Insurance
What happens to life insurance proceeds tax-wise if deposited into a banking account?
Cryotek75 asked:
My father recently passed away, and the life insurance proceeds were paid out. I am curious to know what are the potential tax implications for Ontario, Canada for depositing said proceeds into a bank account or savings account.
My father recently passed away, and the life insurance proceeds were paid out. I am curious to know what are the potential tax implications for Ontario, Canada for depositing said proceeds into a bank account or savings account.