Can Life Insurance Be Written Off?

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   Steve Savant

   Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona

   Life insurance can not be tax deductible or written off. However that being said, it can be inserted in some tax deductible qualified plan contributions. The annual contributions allow 49.5% participating whole life or 25% universal life. There is a economic benefit tax on the death benefit which is relatively small.

   Answered on August 2, 2013

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