Insurance Buyout
We are closing an insurance policy because we are having problems with the company. The amount of money we will receive is $15,000. What should we do with the money so the money continue to grow. I am 78.
Thank you.
Terry Says
I don’t know what kind of problems you are having, but before you take any cash you should ask if this will be a taxable event! If this money is taxable,it could even increase your Medicare Part B premiums, depending on what other income you have.
Ask, and then write back.
