Are Insurance Premiums Deductible? - Sun Life Financial

o Life insurance death benefits are paid tax-free to the policyowner’s beneficiary. o Health and disability insurance benefits are paid tax-free to the policyowner. A life or health insurance policy is owned by an employee, but the premiums are paid by the employer: o The premiums are treated as taxable income to the employee. o The employer may deduct the premiums against business income as ... ................
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