Life Insurance

Bussiness

Tax Deduction

Request now a Free Instant Quote and Receive our best Deals!

Instant Free Quote

Deductible Life Insurance Premiums

As an individual, when you pay life insurance premiums, they are not deductible on your income tax return.

However, if you are a business owner and you pay life insurance premiums on behalf your employees, your expenses may be deductible.

Life Insurance Term Life Insurance Life Insurance Policy Whole Life Insurance Life Insurance Quotes Insurance Agents Insurance Broker Insurance Policy insurance quotes life insurance quote insurance quote term life insurance life insurance quotes insurance compare term insurance cheap insurance Cheapest insurance insurance rates 21st century insurance life insurance all state insurance homeowners insurance whole life insurance erie insurance aig insurance trip insurance prudential life insurance life insurance policy usa insurance health insurance quotes motorcycle insurance farmers insurance business insurance private health insurance life insurance companies florida insurance nationwide insurance insurance companies affordable health insurance prudential insurance Insurance premium American family insurance Insurance american Insurance policies Insurance companies in General insurance Insurance individual Health ins Texas insurance Insurance plans Healthcare insurance Professional liability insurance Insurance coverage Cover insurance Citizens insurance Allied insurance Health care Agency insurance Guardian insurance Onsurance terms Financial insurance Insurance institute Accidental Death Insurance Affordable Life Insurance Affordable Term Life Insurance for Diabetics Babyboomers (Over 50 Life Insurance) Benefits of Life Insurance Business Life Insurance Key Man Life Insurance Life Insurance for SBA Loans Business Tax Deduction Life Insurance Charitable Giving Life Insurance Cigar, Pipe & Cewing Tabbaco Life Insurance Ciggarete Smokers Life Insurance Crohns Disease Life Insurance Diabetes Life Insurance Foreign Resident Life Insurance Gold Coast Life Insurance Guaranteed Issue Whole Life Insurance High Blood Pressure Life Insurance High Cholesterol Life Insurance High Risk Life Insurance Improving Your Health and Insurance Rating Life Insurance While Pregnant Life Insurance at GoldCoast Life Insurance Alternatives Life Insurance for Marijuana Smokers Life Insurance for Pilots Life Insurance for Recovering Alcoholics Life Insurance Quotes in Boca Raton Life Insurance to Cover Student Loans Multiple Policies Life Insurance No Exam Life Insurance Overweight Life Insurance Permanent Life Insurance Post Traumatic Stress Disorder Life Insurance Pre Existing Conditions Privacy Policy GoldCost Life Insurance Prostate Cancer or Enlarged Prostate Protect Alimony & Child Support Rates by Age Life Insurance Review Your Policy Risks of Guaranteed Accepted Life Insurance Save Money on Term Life Insurance Skin Cancer Life Insurance

Is Life Insurance Tax Deductible for Business Owners?

The premiums you pay for life insurance policies intended to provide for your family in the event of your death are not tax-deductible, even if you pay the premiums from your business checking account.

However, if you have a life insurance policy for protecting your business assets, life insurance premiums are tax deductible.

Is Life Insurance Tax Deductible for Premiums Paid on Employees?

Is life insurance tax deductible, if you purchase life insurance policies for your employees?

Examples of such policies for employees include both buy-sell life insurance and key person life insurance.

Life Insurance Term Life Insurance Life Insurance Policy Whole Life Insurance Life Insurance Quotes Insurance Agents Insurance Broker Insurance Policy insurance quotes life insurance quote insurance quote term life insurance life insurance quotes insurance compare term insurance cheap insurance Cheapest insurance insurance rates 21st century insurance life insurance all state insurance homeowners insurance whole life insurance erie insurance aig insurance trip insurance prudential life insurance life insurance policy usa insurance health insurance quotes motorcycle insurance farmers insurance business insurance private health insurance life insurance companies florida insurance nationwide insurance insurance companies affordable health insurance prudential insurance Insurance premium American family insurance Insurance american Insurance policies Insurance companies in General insurance Insurance individual Health ins Texas insurance Insurance plans Healthcare insurance Professional liability insurance Insurance coverage Cover insurance Citizens insurance Allied insurance Health care Agency insurance Guardian insurance Onsurance terms Financial insurance Insurance institute Accidental Death Insurance Affordable Life Insurance Affordable Term Life Insurance for Diabetics Babyboomers (Over 50 Life Insurance) Benefits of Life Insurance Business Life Insurance Key Man Life Insurance Life Insurance for SBA Loans Business Tax Deduction Life Insurance Charitable Giving Life Insurance Cigar, Pipe & Cewing Tabbaco Life Insurance Ciggarete Smokers Life Insurance Crohns Disease Life Insurance Diabetes Life Insurance Foreign Resident Life Insurance Gold Coast Life Insurance Guaranteed Issue Whole Life Insurance High Blood Pressure Life Insurance High Cholesterol Life Insurance High Risk Life Insurance Improving Your Health and Insurance Rating Life Insurance While Pregnant Life Insurance at GoldCoast Life Insurance Alternatives Life Insurance for Marijuana Smokers Life Insurance for Pilots Life Insurance for Recovering Alcoholics Life Insurance Quotes in Boca Raton Life Insurance to Cover Student Loans Multiple Policies Life Insurance No Exam Life Insurance Overweight Life Insurance Permanent Life Insurance Post Traumatic Stress Disorder Life Insurance Pre Existing Conditions Privacy Policy GoldCost Life Insurance Prostate Cancer or Enlarged Prostate Protect Alimony & Child Support Rates by Age Life Insurance Review Your Policy Risks of Guaranteed Accepted Life Insurance Save Money on Term Life Insurance Skin Cancer Life Insurance

Is Life Insurance Tax Deductible for Premiums Paid on Group Life?

Employers who provide group term life insurance to workers may deduct life insurance premiums paid for coverage if the small business is not the beneficiary

Is Key Man Life Insurance Tax Deductible?

Some small business owners elect to purchase life insurance coverage on key employees.

In the event of the employee’s death, the business receives the life insurance policy proceeds.

Life Insurance Term Life Insurance Life Insurance Policy Whole Life Insurance Life Insurance Quotes Insurance Agents Insurance Broker Insurance Policy insurance quotes life insurance quote insurance quote term life insurance life insurance quotes insurance compare term insurance cheap insurance Cheapest insurance insurance rates 21st century insurance life insurance all state insurance homeowners insurance whole life insurance erie insurance aig insurance trip insurance prudential life insurance life insurance policy usa insurance health insurance quotes motorcycle insurance farmers insurance business insurance private health insurance life insurance companies florida insurance nationwide insurance insurance companies affordable health insurance prudential insurance Insurance premium American family insurance Insurance american Insurance policies Insurance companies in General insurance Insurance individual Health ins Texas insurance Insurance plans Healthcare insurance Professional liability insurance Insurance coverage Cover insurance Citizens insurance Allied insurance Health care Agency insurance Guardian insurance Onsurance terms Financial insurance Insurance institute Accidental Death Insurance Affordable Life Insurance Affordable Term Life Insurance for Diabetics Babyboomers (Over 50 Life Insurance) Benefits of Life Insurance Business Life Insurance Key Man Life Insurance Life Insurance for SBA Loans Business Tax Deduction Life Insurance Charitable Giving Life Insurance Cigar, Pipe & Cewing Tabbaco Life Insurance Ciggarete Smokers Life Insurance Crohns Disease Life Insurance Diabetes Life Insurance Foreign Resident Life Insurance Gold Coast Life Insurance Guaranteed Issue Whole Life Insurance High Blood Pressure Life Insurance High Cholesterol Life Insurance High Risk Life Insurance Improving Your Health and Insurance Rating Life Insurance While Pregnant Life Insurance at GoldCoast Life Insurance Alternatives Life Insurance for Marijuana Smokers Life Insurance for Pilots Life Insurance for Recovering Alcoholics Life Insurance Quotes in Boca Raton Life Insurance to Cover Student Loans Multiple Policies Life Insurance No Exam Life Insurance Overweight Life Insurance Permanent Life Insurance Post Traumatic Stress Disorder Life Insurance Pre Existing Conditions Privacy Policy GoldCost Life Insurance Prostate Cancer or Enlarged Prostate Protect Alimony & Child Support Rates by Age Life Insurance Review Your Policy Risks of Guaranteed Accepted Life Insurance Save Money on Term Life Insurance Skin Cancer Life Insurance

Long-Term Care

Premiums paid on a qualified long-term care contract covering either yourself, your spouse or dependents are tax deductible.

The contract is a qualified contract if it meets the following conditions: It must be guaranteed renewable. Refunds may only be used to reduce premiums or increase future benefits.

It cannot provide a cash-surrender value or any other monies that can be used as collateral or assignment.

It can generally not reimburse expenses that otherwise would have been covered under Medicare.

Frequently Asked Questions

Is there a maximum term, or end age on this policy?

Although designed to cover you up to your retirement age, you can take out this life cover right up to age 75.

You can also include a continuation option to carry this cover forward without any fresh medical evidence.

How do I claim the relief on the premium?

When you receive your policy documents, they will include a Certificate to send to the Revenue to increase your tax credits, thereby granting your tax relief.

Can I add my partner to this policy?

No, this type of policy can only allow 1 person and that person must be self-employed or in non-pensionable employment.

Meaning their employer does not provide life cover for them.

Can I add serious Illness Cover to this policy?

No, this policy is strictly for the purposes of life cover

Ready to become a Gold Coast member?

Get your Free no obligation Life Insurance Quote in a Minute!

Free QuoteFree Quote