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New Member
posted Jun 4, 2019 2:18:05 PM

I make payments to an IUL retirement/life insurance plan, can I deduct those payments?

It is a retirement plan I set up outside of work

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1 Best answer
Alumni
Jun 4, 2019 2:18:07 PM

No. That is not a deductible expense.

2 Replies
Alumni
Jun 4, 2019 2:18:07 PM

No. That is not a deductible expense.

New Member
Aug 1, 2023 9:16:58 PM

You can't deduct those payments from the IUL because they are not retirement plans. You got a Life Insurance Contract and life insurance is not designed for the purpose of Retirement.