Expert Q&A

When are life insurance premiums tax deductable?


Related Topics: Life and Disability Insurance, Tax Returns and Preparation, Taxes
Related Tags: Premiums, Deductable
Kyle Sanders
2 of 2 people found this helpful
Was this answer helpful? YES | NO
By Kyle Sanders - New York Life
Answered almost 3 years ago

Although there are several tax friendly
advantages of life insurance, tax deduction of premiums isn’t one of them

Thomas Bridgman
2 of 2 people found this helpful
Was this answer helpful? YES | NO
By Thomas Bridgman - Brent Financial Group, LLC
Answered about 3 years ago

Life insurance premiums are generally not deductible (except in some very rare circumstances, such as when they are paid as part of alimony in a divorce situation).

Do you have a different question?