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New Member
posted May 31, 2019 9:47:31 PM

We pay into a whole life insurance policy that can be used for retirement, can this be written off?

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1 Best answer
New Member
May 31, 2019 9:47:32 PM

No. Contributions to life insurance policies are not deductible (and death benefit proceeds are not taxable).

1 Replies
New Member
May 31, 2019 9:47:32 PM

No. Contributions to life insurance policies are not deductible (and death benefit proceeds are not taxable).