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Is loan interest on life insurance tax deductible?

Jodi Brooks

in Student Loans

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1 answer

Theresa Perry on August 20, 2018

Response . No. Under Section 51(1) of the Internal revenue Code, the general rule is that interest payments on a loan to fund a life insurance policy are not deductible. Congress considers life insurance a highly tax privileged form of investment and declines to afford this additional benefit.

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