Is My Life Insurance Policy Premium Tax Deductible?

Answer If you are an individual purchasing life insurance for yourself, the premiums for such an insurance would not be deductible in your personal tax filings. However, your life insurance premiums may b... Read More »

Top Q&A For: Is My Life Insurance Policy Premium Tax Deductible

What is a flat extra premium on a life insurance policy?

Flat extra premiums are fixed-dollar amounts added to life insurance costs to offset an increased risk posed by the insured person. In most cases, flat extra premiums are only temporary and get rem... Read More »

What is a level premium term life insurance policy?

When people are looking to purchase term life insurance, they can opt for a level term life policy. This insurance plan provides a consistent premium payment amount throughout the life of the polic... Read More »

The Definition of the Insurance Premium Deductible?

Insurance protects your assets, income and savings. It protects your family in case of your death by paying your funeral expenses, mortgage and debts. As you pay your insurance premiums on time eac... Read More »

Is a health insurance premium tax deductible?

Health insurance premiums are tax deductible as a medical expense. However, only medical expenses exceeding 7.5 percent of your adjusted gross income can be claimed as a deduction. If you are self-... Read More »