--- title: Are there taxes? description: Life insurance is a “tax on the seed” account (versus a “tax on the harvest” account like a 401k or IRA). So while you pay taxes going in, there is no tax on the growth of the cash value (or the divid --- [Skip to content](https://info.prosperitythinkers.com/migration/knowledge/are-there-taxes#main-content) English Show submenu for translations Prosperity Thinkers™, LLC Open main navigation Close main navigation - English Show submenu for translations - Contact us Contact us How can we help you? - There are no suggestions because the search field is empty. 1. [Help Center](https://info.prosperitythinkers.com/migration/knowledge?hsLang=en) 2. [Is Whole Life Insurance Right for Me?](https://info.prosperitythinkers.com/migration/knowledge/is-whole-life-insurance-right-for-me?hsLang=en) # Are there taxes? Life insurance is a “tax on the seed” account (versus a “tax on the harvest” account like a 401k or IRA). So while you pay taxes going in, there is no tax on the growth of the cash value (or the dividends when purchasing PUA’s) or the death benefit. However, the death benefit is included in your estate, and subject to any estate and inheritance taxes that may apply. - [What Is Whole Life Insurance?](https://info.prosperitythinkers.com/migration/knowledge/what-is-whole-life-insurance?hsLang=en) - [How Does it Work?](https://info.prosperitythinkers.com/migration/knowledge/how-does-it-work?hsLang=en) - [Is Whole Life Insurance Right for Me?](https://info.prosperitythinkers.com/migration/knowledge/is-whole-life-insurance-right-for-me?hsLang=en) - [What About Term Life Insurance?](https://info.prosperitythinkers.com/migration/knowledge/what-about-term-life-insurance?hsLang=en) - [How to Setup my Policy](https://info.prosperitythinkers.com/migration/knowledge/how-to-setup-my-policy?hsLang=en) - [How to Use my Policy](https://info.prosperitythinkers.com/migration/knowledge/how-to-use-my-policy?hsLang=en) - [Building Generational Wealth](https://info.prosperitythinkers.com/migration/knowledge/building-generational-wealth?hsLang=en) [![Prosperity Thinkers logo](https://info.prosperitythinkers.com/hs-fs/hubfs/small%20pt%20logo.png?width=88&height=66&name=small%20pt%20logo.png "Prosperity Thinkers logo")](https://info.prosperitythinkers.com/?hsLang=en) [mailto:email@email.com](mailto:email@email.com) Copyright © 2026, Prosperity Thinkers™, LLC