1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    No, Disability Income insurance is not usually tax deductible. But if you do need to collect on your disability insurance policy during a time of being unable to work, that income from your insurance policy is tax free. This stretches those income dollars at a time when you really need them.
    Answered on September 29, 2014
  2. 10968 POINTS
    Tim Wilhoit
    Owner, Your Friend 4 Life, Brentwood TN
    The only way disability insurance premiums are tax deductible are an employer purchasing a group plan for the employees. The premiums are deducted by the company and any benefits drawn by the employee are considered taxable income. If you purchase an individual disability insurance plan the premiums are not tax deductible but any benefits drawn would then be tax free.
    Answered on September 29, 2014
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