In that past, I've paid taxes on the yearly dividends/interest from a whole life insurance policy (I know, not the best, but it's a sunk cost made by a family member that was left to me) and recently found that I didn't have to because they are paid-up.
Because I've paid taxes on earnings in the past, can I withdraw that amount in the future without paying taxes on it? Or is what I did incorrect and future withdrawls will still require taxes be paid on those amounts?
