1. 3998 POINTS
    Matt Benore
    Founder, DenverWest Insurance Professionals, Inc.,
    You have to remember what life insurance gives to you upon death of a covered person, a TAX-FREE death benefit.  There are a few circumstances which life insurance premiums can be "written off" however you need to be aware that the death benefit, usually a tax-free benefit will become taxable.

    Consider what that will do to your tax bill and the liability you might have.
    Otherwise I would recommend talking to your tax adviser about deducting your life insurance premiums.
    Answered on March 4, 2014
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