A Tse
Joined: 6/3/2024
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Foreign medical insurance - surrender value/maturity value
Background: I have a foreign medical insurance, the premium is paid monthly. A surrender value/maturity value will be paid to me when I am 65 years old with no claim history during the insured period. This surrender value/maturity value is made of cash value (guaranteed) plus terminal dividend (non-guaranteed). Question: Is the surrender value/maturity value taxable when I withdraw it from the policy? Thanks