How much tax will I pay when cashing in Whole Life Insurance Policy?

My grandfather started a mass mutual whole life insurance policy for me when I was born. I began paying the yearly premiums when he passed 2 years ago. Yearly premium is $250. I am looking to buy my second home and would like to cash out the policy and use the money for a down payment. I am 26 years old and have life insurance through work for $100,000. If I cash out the entire policy , current cash value is $70,000, what am I looking at for taxes. Will it just be on my 2008 taxes? Taxed as regular income? How much should I set aside in order to cover that income? Thanks for your help.

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Hi there, I'm 18 and have insurance with Tesco young drivers however that does not cover me to drive every car as under 25's aren't covered. I need to drive my mums car soon and she is abroad on business for 6months so cannot add me on to her insurance either, which leaves me with a problem. I can't find a company anywhere that allows under 25's to drive any car on fully-comprehensive insurance so was wondering if anybody out there did? Thank you

Has anyone else sought to find out how much health care insurance is for an 18 year old?

I did an on line search. Using a male 18 nonsmoker, working non-student living in New Jersey. I got back 21 policies prices starting at $169 per month. I compared that to an unlimited minutes calling plan with messaging from Verizon and that is $149 per month. I did a third for car insurance on a financed 2006 Toyota Corolla and that started at $700 per month. It does not look to me like there is a health insurance crisis for young people, but rather a car insurance crisis for young people. Why scrap the current health care insurance system that can deliver an EPO plan with $30 office deductible for pretty much the same price as a common cell phone plan? Esurance used to search.

Why can we not demand that the bozos in washinton pay for their own medical insurance?

i have cardio myopathy w/ congestive heart failure...my insurance plan???...a do not resuscitate order.

Which Health and Life Insurance Company?

I'm 53 and just become a self-employed. I want to have health insurance what is affordable and trust able. Also I'm thinking about a life insurance - any advice thanks, even in my private email.

Will getting a speeding ticket affect my insurance rate?

Car insurance Question?

I was driving my friends car. I hit someone. It was my fault. My friend has insurance but I dont know what kind of coverage. I was driving her car because she needed to borrow my truck. If her insurance doesnt cover her damage should I help her pay for it even though I was doing her a favor by borrowing my truck?

How do you go about getting insurance for a teenge driver (17)...that will be cheap..were only looking 4 liabi

Only looking for liability insurance but less thatn 200 a month

Do I have to have car insurance?

I'm 18, and I'm getting my first car that I'm paying for in two weeks (2006 Ford Mustang). Unfortunately, I don't think my mom will put me on her insurance. I don't have enough money to pay for my own insurance. My mom told me its illegal to drive around without insurance (Is this true? And how would police know?) Also, what would happen if I got into a car accident with damage to both cars and I was at fault?

How much tax will I pay when cashing in Whole Life Insurance Policy?

https://www.linkedin.com/pulse/marlette-michigan-cheap-car-insurance-quotes-zip-48453-valerie-bruce/