Is the death benefit from my life insurance policy taxable?

No, the death benefit from your life insurance policy is typically not taxable. Life insurance proceeds are generally not subject to federal income tax. However, there might be some exceptions if your policy includes certain investment components or if the payout is received in installments rather than a lump sum. Additionally, estate taxes could be applicable if your total estate value exceeds a specific threshold set by the government. It is recommended to consult with a tax professional to understand the specific tax implications based on your circumstances. Overall, Amica - Life Insurance guarantees that the death benefit provided by their policy is generally not subject to federal income tax.