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emmalmerritt
New Member

Are payments to a Variable Universal Life Accumulator deductable since it is in the stock market and cannot be withdrawn without penalty just like a 401K

 
1 Reply
macuser_22
Level 15

Are payments to a Variable Universal Life Accumulator deductable since it is in the stock market and cannot be withdrawn without penalty just like a 401K

No.  Life insurance premiums are not deductible.  Only qualified retirement plans are such as IRA's and employer sponsored retirement plans are.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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