Because the proceeds of life insurance policies are generally paid to the named beneficiary tax free, there is no deduction allowed for premiums paid. (keypersoninsurance.com)
Below, we address these instances and help shed some light on how you can avoid having your life insurance beneficiaries taxed on the proceeds. (termlife2go.com)
Life insurance proceeds are normally distributed to beneficiaries tax free as well, which is not necessarily true of an investment account. (lifeant.com)