Is interest paid on a life insurance loan tax deductible?

Answer The interest paid on a life insurance loan is tax deductible if you use the money you receive for deductible purpose. This would include buying stocks and bonds. To deduct this, though, you must pa... Read More »

Top Q&A For: Is interest paid on a life insurance loan tax d...

Does a paid up life insurance policy pay interest or dividends?

A paid-up whole life insurance policy does earn interest. A paid-up participating whole life policy earns interest and dividends; however, dividends are never guaranteed. Paid-up term life insuranc... Read More »

Is interest paid on a time share condo deductible as mortgage interest?

According to the IRS, mortgage interest from a timeshare condominium is considered qualified residence interest that is tax deductible as long as the owner uses the condominium as a second home for... Read More »

Does AXA Whole Life Insurance credit back 4% of the 5% interest rate of the loan amount borrowed from policy?

No, they don't credit you back - have him put it in writing, or show you the part of the policy that says that. Bet he can't. And the INTEREST You pay, when you borrow your own money, belongs to... Read More »

Is loan interest tax deductible?

Certain interest from loans are tax deductible. If you paid on the interest for student or home loans during the current tax filling year, you can claim it as a deduction on your tax return.Source:... Read More »