Life Insurance
What happens to my life insurance money if I die in US and my family moves back home country? Will the money still be paid out and what are the tax implications?
OneMarket ri0ts Dec 5, 2018
Facebook MadMin Dec 5, 2018
Lol, he’s not committing suicide
Microsoft pm_r2i Dec 5, 2018
The thread escalated real quick.
Microsoft SSS! Dec 5, 2018
When you filled out life insurance beneficiary, you need to provide the ssn. So Lifeurance only pays out to those who have ssn in the US because IRS need to collect tax on the pay out. If beneficiary doesn't have ssn, IRS can't collect tax so insurance company won't pay.
Where do you live and where would they move back too? (Countries)