Are life insurance premiums deductible for a C Corporation?
Yes, but only if the executive/employee is the beneficiary of the life insurance policy. If the company is the beneficiary of the life insurance policy, then the life insurance premiums are not deductible. Remember that life insurance proceeds are nontaxable for the C Corporation.
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Are proceeds from life insurance policies taxable income for a C Corporation?
No. If the C corporation is listed as the beneficiary, then any proceeds from life insurance policies would be considered nontaxable income (refer to #2 under nontaxable income on the right). On the contrary, the life insurance premiums paid are only a deduction for the C Corporation if the employee/executive are listed as the beneficiary. […]