cancer insurance

Any health insurance is deductible.

ed

If the premium is paying for medical care from complications of cancer, the premium is a medical expense. If the premium is paying a death benefit in case the purchaser dies from cancer, the policy is not deductible.

========================================= MODERATOR'S COMMENT: Please eliminate all unnecessary parts of the post to which you are responding.

Since I am "way down in Columbus, Georgia", I have to put in a plug for de duck. (Quack!)

Seriously, AFLAC, whose commercials you've surely seen on tv, is headquarterd here and said cancer insurance does qualify for tax deduction.

However their disability policies may or may not, depending on whether or not pre tax.

ChEAr$, Harlan Lunsford, EA n LA

I've never looked closely at any such policies for the reason that I couldn't see the point. It seems to me they're either health insurance, life insurance, or disability insurance with a special restriction.

If indeed there's a policy that pays off like a slot machine if you are diagnosed with cancer, I can't see that the premiums would be deductible. Same for death and disability. Only if it just covers medical expenses would I see it as a medical expense.

BEcause; proceeds are paid over to the hospital for chemo therapy, radiation treatment, whatever. I speak from experience, for my father had the covereage.

ChEAr$, Harlan Lunsford, EA n LA

Pub 502 page 9 contains the following

"Insurance Premiums You Cannot Include

You cannot include premiums you pay for:

? Life insurance policies,

? Policies providing payment for loss of earnings,

? Policies for loss of life, limb, sight, etc.,

? Policies that pay you a guaranteed amount each

week for a stated number of weeks if you are hospitalized for sickness or injury,"

Assume the insured has adequate coverage elsewhere to pay all bills without the necessity to use the cancer insurance proceeds. Looking at the last item (guaranteed amount each week...). Are the premiums still deductible?

Ron