: Are insurance payouts taxable in Canada? This is in reference to this question about life insurance but can apply to other insurance payouts. This would definitely affect how much to plan for.

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Are insurance payouts taxable in Canada?
This is in reference to this question about life insurance but can apply to other insurance payouts. This would definitely affect how much to plan for.

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@CatherineCorbett

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If you are an individual purchasing life insurance, then the proceeds are not taxable when paid to the beneficiaries.

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: Are insurance payouts taxable in Canada? This is in reference to this question about life insurance but can apply to other insurance payouts. This would definitely affect how much to plan for.

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