[tdscpa]

The corporation could not deduct the premiums if it is the beneficiary.

[ValerieUSA]

They try.

Camelot Music was also sued in the same case after former employees, including many part-time workers making close to mimumum wage, discovered they were insured for between $273,000 and $368,000 each.... The Camelot case came to light after it sued the Internal Revenue Service after it disallowed the company's tax deductions on the insurance premiums.

[wardaddy]

Companies that insure high ranking officers or owners and are both the owner and beneficiary can indeed charge the premiums as an expense. Some of these premiums are so huge that if they can't deduct them, I don't see how they can justify them.