1. 61682 POINTS
    Steve SavantPRO
    Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
    Disability insurance benefits generate tax free income for the policy owner when the policy insured is unable to work because of prolonged injury or sickness. The income is tax free because the disability insurance premiums were not deducted. There are scenarios where a business can expense disability premiums, but then the income is taxable at ordinary income tax rates.
    Answered on August 4, 2013
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