Life Insurance premiums tax consequences

Does it matter tax-wise [b]who[/b] writes the check for life insurance premiums (either the owner who is also the beneficiary of the policy or the person who is insured)?



Not from an income tax or estate tax standpoint. However if the insured is not the owner and pays the premium, it would be a taxable gift to the owner (notwithstanding annual eclusions and lifetime exemptions).



Thank you for the clarification.



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