Seniors could get a bigger tax deduction this year, but the rules matter. Here's what to know before filing.

For tax year 2025, an individual filer over 65 will be able to deduct up to $23,750 from their federal return.

The average cost of senior life insurance is $552 per month, according to Forbes Advisor research. That’s for a policy for a 70-year old with a 10-year term and a $250,000 death benefit. Here’s a look ...