Is loan insurance tax deductable?
I have taken out loan insurance on a new loan, $225 month covers 2.5 years of illness and payout of loan on death.
Because of age (50's) I decided to take it out knowing there is a 21 day cooling off period for me to consider whether to continue with it.
Increasing life insurance at this age is expensive.
If it's tax deductable it could be worth keeping and cheaper than life insurance.
I have taken out loan insurance on a new loan, $225 month covers 2.5 years of illness and payout of loan on death.
Because of age (50's) I decided to take it out knowing there is a 21 day cooling off period for me to consider whether to continue with it.
Increasing life insurance at this age is expensive.
If it's tax deductable it could be worth keeping and cheaper than life insurance.
