Tracking Life Insurance Payments

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I have two whole life policies which I will continue to make payments on for about 10 years at which point they will be fully paid up, and payments will stop. How would I enter this data. Also the idea is at some point to start withdrawing money from the policy (probably as a loan so as not to trigger tax). How is this accounted for?

‹ Paid Up Life Insurance Life insurance not wanted for my situation. ›
Submitted by Dennis112 on 24 January 2010 - 8:42pm.
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Comments

1
From: Dick Munroe

Special Expenditures for the payments (probably in dollars if you're making a constant payment). Special Receipts for the loan. Special Receipts for the loan repayment (if any).

Best,

Dick Munroe

2010-01-25 07:31