<prompt> Human: The insurance policy is about 50k a piece for my sister, and I. Im wondering if there is any unforeseen benefit to having taxes taken out at this time. Any help is greatly appreciated! form  <response>: Sorry for your loss.Unless this was a life insurance policy paid for by your moms employer on a pre-tax basis and is in excess of 50,000, you dont need to withhold taxes as there will be none.IANACPA 