No tax on the life insurance...
Posted on: March 21, 2023 at 12:56:46 CT
Gyro STL
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Tax liability on the annuity depends on what kind. If it's an IRA annuity, she or his estate may be liable for taxes. If not, probably not.
Whether it continues to pay out depends on the terms of the annuity. You'd need more information for a better answer.