In 2001, Titoâs Handmade Vodka won the double gold medal for best vodka at the San Francisco World Spirits Competition. That means it was a unanimous decision. That also means that there are judges who are invited to San Francisco every spring to drink for free and that it must be nice to be a judge of such things.
But interest that accrues on a cash value life insurance policy will be considered taxable income, and you should receive a Form 1099 showing the total interest earned each year, he says. Many insurance companies offer policyholders the option of using their interest to buy additional insurance.
1 Whole life non-participating policy and universal life insurance policy: As long as cash value continues to grow in an active policy, the cash value is not taxable until one of the following occurs: 2  You cancel or âsurrenderâ the policy.  You transfer the life insurance policy, such as when you assign or sell the policy.