Are life insurance premiums tax deductible?

ANSWERS: 2

Official Know-It-All

According to the Internal Revenue Service (IRS), life insurance premiums are not tax deductible on your federal income taxes. Only certain medical insurance premiums are deductible as an itemized deduction.
Source:
IRS: Topic 502 - Medical and Dental Expenses

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Hardcore Conservative

Depends on who pays the bill. If your business pays it, then most likely. If you pay your own, no.

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