Life Insurance Proceeds do not count as MAGI Income
IRC Sec. 101(a)(1) (a) Proceeds of life insurance contracts payable by reason of death
Except as otherwise provided in paragraph (2), subsection (d), subsection (f), and subsection (j), gross income does not include amounts received (whether in a single sum or otherwise) under a life insurance contract, if such amounts are paid by reason of the death of the insured.
Complementary Instant Term Insurance Quotes