"Harlan Lunsford" <hnslunsford[at]bellsouth.net> wrote in message
newsjGzj.198$by3.138[at]bignews5.bellsouth.net...
- quote -

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


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Phil Marti wrote:
- quote -

radiation treatment, whatever. I speak from experience, for my father
had the covereage.

ChEAr$,
Harlan Lunsford, EA n LA

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"Harlan Lunsford" wrote:

- quote -

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.

--
Phil Marti
Clarksburg, MD

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Rhickey wrote:
- quote -

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

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

On Mar 4, 9:30*pm, "Rhickey" <rhic...[at]triad.rr.com> wrote:
- quote -

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.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

On Mar 4, 9:30*pm, "Rhickey" <rhic...[at]triad.rr.com> wrote:
- quote -


ed

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Is there any cancer insurance that is deductible as a medical expense?

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >