A client has a cash value account worth $50,000, $15,000 of which is attributable to growth. They currently have a loan outstanding equal to 20% of the cash value and just now received $5,000 in dividend payments. They are in the 22% marginal tax bracket. 

What is their tax liability should they surrender the policy?

Answer rating: 100% (QA)

To calculate the tax liability if the client surrenders the policy we need to consider the tax treat... View the full answer