Premiums
on accident and health policies like some AFLAC policies (generally, policies
that pay you a guaranteed amount each week for a stated number of weeks if you
are hospitalized for sickness or injury) such as many cancer policies are not
deductible. From IRS Pub 502:
You cannot
include premiums you pay for: ...
·
Policies
providing payment for loss of earnings,
·
Policies for
loss of life, limb, sight, etc.,
·
Policies that
pay you a guaranteed amount each week for a stated number of weeks if you are
hospitalized for sickness or injury, ...
