according to this they are deductible if your not directly or indirectly the beneficiary of the policy.
Employee benefit programs. Employee benefit programs include the following. • Accident and health plans. • Adoption assistance. • Cafeteria plans. • Dependent care assistance. • Education assistance. • Life insurance coverage. • Welfare benefit funds. You can generally deduct amounts you spend on employee benefit programs on the applicable line of your tax return. For example, if you provide dependent care by operating a dependent care facility for your employees, deduct your costs in whatever categories they fall (utilities, salaries, etc.). Life insurance coverage.
You can't deduct the cost of life insurance coverage for you, an employee, or any person with a financial interest in your business, if you’re directly or indirectly the beneficiary of the policy. See Regulations section 1.264-1 for more information.
