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Premiums are not deductible regardless of whether the insurance is government life insurance or regular commercial life insurance. Although life insurance premiums, as such, are not deductible, they may be deductible as the payment of alimony or as charitable contributions.
Your deductible, coinsurance, and copay are considered out-of-pocket costs. In other words, they are health care expenses that you are responsible for. However, the ways in which they function are much different. A deductible is the total amount that you must pay before your insurance company begins contributing. For instance, if you have an insurance plan with a $2,000 deductible, you will be responsible for 100% of your healthcare costs until those costs reach $2,000.