Are my funeral insurance premiums tax deductible?
In most cases, you will not be able to claim a tax deduction for the premiums you pay for your funeral insurance policy. However, any lump sum payment made under the policy would not generally be assessable for tax.
This information is a guide only and is based on current taxation laws. For information about your individual circumstances, it's important that you contact your personal tax adviser.
- What is funeral insurance?
- How much does funeral Insurance cost?
- What happens if I die within the first year after taking out my funeral insurance?
- What if I change my mind about my funeral insurance?
- Can my funeral insurance policy be cancelled?
- Will I need to pay premiums as soon as you issue my funeral insurance policy?
- What happens if I don't pay my funeral insurance premiums on time?
- What happens when my funeral insurance premiums reach the amount I've insured?
- Are my funeral insurance premiums tax deductible?
- How can I pay my funeral insurance premiums?
- Will I have to have a medical test or interview to take out funeral insurance?
Thanks for your question.
We try very hard to respond to every question we get in a timely manner, but if your question is urgent you might want to call us on 1300 467 872.