Premiums paid on an individual disability income insurance policy are

Premiums paid on an individual disability income insurance policy are generally not tax deductible. This means that individuals cannot reduce their taxable income by the amount they pay in premiums for this type of insurance. The rationale behind this policy lies in the fact that, while the premiums cannot be deducted, any benefits received from the policy in the event of a claim are typically received tax-free. This creates an overall favorable tax situation for policyholders.

In contrast, the options that suggest deductibility under certain conditions do not apply to individual policies. For instance, the notion that there could be a threshold for deductibility, such as exceeding 7.5% of adjusted gross income, is more applicable to medical expenses rather than individual disability insurance premiums. Furthermore, while employer-paid premiums could potentially be structured differently depending on the business context, this does not pertain to individual policies, where the policyholder themselves pays the premiums directly.