No, mortgage protection insurance premiums are not tax-deductible. While there are some types of insurance that are tax-deductible, such as health insurance for self-employed individuals, Mortgage Protection Insurance is not one of them. However, the benefits paid out from the policy are typically tax-free, which can provide some financial relief to the homeowner's beneficiaries. It is important to consult with a tax professional or financial advisor to understand the tax implications of purchasing Mortgage Protection Insurance and how it fits within an overall financial plan.
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