Is credit life insurance tax-deductible? Generally, credit life insurance premiums are not tax-deductible. However, consult with a tax professional to understand the specific tax implications in your jurisdiction. Can I have credit life insurance from a different provider than my mortgage lender?
Private mortgage insurance (PMI) and mortgage insurance premiums (MIP) are often required for homebuyers who put down less than 20% on their homes. These insurance premiums were not deductible from federal taxes for years but the legislation surrounding this has evolved. The Further Consolidated App...