Life insurance premiums are generally not deductible. An exception exists if the policy is required to be assigned as collateral for a loan from a restricted financial institution. In this case the borrower must also be the policy-holder.

The above provides general information only. It should not be regarded or relied upon as accounting or taxation advice or opinions. Logan Katz LLP Chartered Accountants would be pleased to provide more information or specific advice on matters of interest to you.
 

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