According to the IRS, life insurance premiums are generally not deductible on Schedule C. However, there are some exceptions to this rule. If you are self-employed and use life insurance as part of a qualified retirement plan, you may be able to deduct a portion of the premiums. Additionally, if you are a sole proprietor and provide life insurance coverage for your employees, you may be able to deduct the premiums as a business expense. It's important to consult with a tax professional or refer to IRS publications for specific guidance on deducting life insurance premiums on Schedule C.