Can I Deduct Life Insurance Premiums As A Business Expense? 
Can you deduct life insurance premiums ? It 's going to depend on what type of life insurance you are talking about . If you are referring to group life the cost of premiums up to 50,000 in face amount can be deducted . Above that for group , no.For that type of plan the benefit is not taxed . The big issue for other coverage is if you take the tax deduction on the premium , you pay taxes on the benefit , which would be a much greater tax hit than the taxes on the premium . 