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	<title>New answer on: Is My Life Insurance Tax Deductible?</title>

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		<title>By: walterharrison@me.com</title>

		<link>https://insurancelibrary.com/life-insurance/is-my-life-insurance-tax-deductible</link>

		<dc:creator>walterharrison@me.com</dc:creator>

		<pubDate>Thu, 27 Mar 2014 19:40:14 +0000</pubDate>

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		<description><![CDATA[Wouldn&#039;t that be nice if it were... Unfortunately, it is not unless you have named a Qualified Charity as the Irrevocable Beneficiary.  So, unless you have a special charity you are looking to donate to, Life Insurance is Not Tax Deductible.  But the good news is, the Death Proceeds are in most cases, Tax Free...]]></description>

		

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		<title>By: Kurt Jackson</title>

		<link>https://insurancelibrary.com/life-insurance/is-my-life-insurance-tax-deductible</link>

		<dc:creator>Kurt Jackson</dc:creator>

		<pubDate>Thu, 27 Mar 2014 19:11:10 +0000</pubDate>

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		<description><![CDATA[Excellent question.  Before I try to tackle this, please realize I am not a tax advisor so this response should not be used as tax advice, always consult your tax professional.
Typically, since the death benefits of life insurance are tax-free (although the amount of the death benefit could push one over the exclusion amount for estate taxes) the premiums paid for life insurance would not be tax-deductible.

Typically, the IRS doesn&#039;t like for us to be able to use tax-deductible dollars to fund something that is tax-free.  Although, I&#039;m always on the lookout for a loop-hole that allows it! :)

I hope that helps, if you have something more specific please let me know. ]]></description>

		

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		<title>By: David Pipes</title>

		<link>https://insurancelibrary.com/life-insurance/is-my-life-insurance-tax-deductible</link>

		<dc:creator>David Pipes</dc:creator>

		<pubDate>Thu, 27 Mar 2014 18:53:48 +0000</pubDate>

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		<description><![CDATA[Generally speaking, the answer is no.  The good news is that the proceeds (death benefit) are not includable in gross income for income tax purposes.  You are trading a small amount of deduction for a potentially huge tax free benefit.  For this reason alone there hasn’t been much demand for deductible life insurance. ]]></description>

		

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