Can a business owner claim as tax exemption his life insurance expense?

Question

by a board resolution the company wants to give the president an insurance life policy benefit as part of his remuneration which amount will be in keeping with sound company policies.will the company be able to treat this expense as a tax deduction?

Answer 1

It is considered a benefit, just like health insurance and will be a deduction for the company.  If they are making themselves the beneficiary then the rules could be different.

Answer 2

YUP!