Reply #13: The bottom line is that this smells of BS. Any life insurance policy regardless of the beneficiary

[PBS Poll-435]

Is taxable to you as income.

If it were a group life policy >$50,000 then it would show up on your W-2.



If it were an alternative policy (UWL or something that is not in the usual works of HR,) then you would receive a 1099 at then end of every tax year (assuming the value of the premium is in excess of $600.00 per anum.) And if the premiums were not in excess of $600.00 per year YOU ARE STILL REQUIRED to report the policy premiums as taxable income. And if all of these crazy companies took policies on you, with or without your knowledge, it is still a taxable (document-able) benefit to you. (And YOU would have the privilege of changing the beneficiary any fucking time you wanted to.)