Is Voluntary Disability Insurance Deductible?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Voluntary Disability Insurance is paid for with after tax dollars. However, then if you need to receive the benefit, it will not be taxed. The Disability benefit cannot be more than 80% of your salary, and will most likely be less than that. So taking out taxes can really take a chunk out of those crucial funds when you need them.
    Answered on June 29, 2013
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