What are the premiums deductible and terms of payout on liability insurance?

Answer it is better as there are benefits attached.......

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Are disability insurance premiums tax deductible?

According to, disability insurance premiums are generally not tax deductible, but the benefits you receive may not be treated as taxable income. If premiums are paid with after-tax income,... Read More »

Are health insurance premiums tax deductible?

Health insurance premiums can be deducted from your federal income taxes once your medical expenses exceed 7.5 percent of your adjusted gross income. Anything you pay above the 7.5 percent is deduc... Read More »

Are life insurance premiums tax deductible?

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 d... Read More »

Are mortgage insurance premiums deductible?

You can deduct mortgage insurance premiums as an itemized deduction on your federal income taxes if your home mortgage was taken out after 2006. If you took out your mortgage in 2006 or earlier, yo... Read More »