Can Voluntary Life Insurance Be Pre Tax?

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   John "Jake" Nugent II

   Solution Provider, Madison Strategic Partners Group, Greater New York City Located, Serving Clients Nationwide

   Unfortunately, no. Insurance premiums are not tax deductible nor can they be taken pre-tax.  HOWEVER, be sure to enroll/elect in any employer paid group life insurance or individual life insurance policies.  If the policy is not part of a SERP plan or other executive compensation plan, it is a way to pick up small coverage without any out of pocket contributions.

   Answered on November 13, 2013

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